Pre Market Report, November 19, 2019 | Stocks and Commodities

November 19, 2019
Time: 8.30 am

Pre Market Report:

1. US markets closed slightly positive after swinging between plus and minus.
2. But Asian markets are mixed.
3. SGX Nifty fell below 11900 but now recovered and trading around 11910.
4. Still this is about 15, 20 points lower than yesterday's close.
5. Last month, on October expiry, October 31, November Nifty future closed at 11915.
6. Yesterday, after 11 trading sessions, November Nifty future closed at 11925.
7. So the entire November series, so far, it is consolidation.
8. Market set up is not looking bullish, FIIs have sold for 3rd consecutive day.
9. As long as Nifty is trading between 11800 and 12000, we can assume that it is consolidation.
10. Markets can not be in this range for a long time.
11. Sooner than later, we can expect a break out or break down.
12. Bank Nifty has out performed in November.
13. From Oct 31 till yesterday, Nifty is almost flat but Bank Nifty is up by 1000 points.
14. Bank Nifty up by 1000 points alone should have contributed 300 points for Nifty.
15. So out side Banks, Nifty has fallen by 300 points.
16. Most of the time, SGX Nifty follows only Global cues.
17. When markets opened here, many times, story was different.
18. US-China Trade news is likely to be headlines for many more months.
19. Fall is Asian markets is attributed to US-China Trade uncertainty now.
20. Still hoping that Nifty future will take support at 11880.
21. I will look to sell more call options if that is broken.
22. Yesterday I sold 12050, 12100 call options in weekly.
23. Nifty future may trade between 11860 and 12000.