Pre Market Report, November 27, 2019 | Stocks and Commodities

November 27, 2019
Time: 8.30 am

Pre Market Report:

1. Yesterday Nifty and Bank Nifty both hit all time high.
2. But Maharashtra news brought the volatility.
3. Bank Nifty fell 300 points from 1.30 pm to 2.30 pm and shot up by 300 points from 2.30 pm and 3.30 pm.
4. Huge buying in ICICI Bank helped Bank Nifty.
5. Open Interest up by 67& in ICICI Bank.
6. Today both ICICI Bank and YES Bank will help Bank Nifty to out perform Nifty.
7. FIIs have bought for Rs 4600 crores in Cash market.
8. They have used the Maharashtra news dip to buy ICICI Bank for MSCI Rejig.
9. Overnight, US markets also closed positive.
10. Asian markets are also trading positive.
11. Due to last hour commotion, Nifty future was at 60 points premium and Bank Nifty future was at 100 points discount to their corresponding spot price.
12. One good thing about Maharashtra is that the uncertainty has gone.
13. Had the saga continued, we would have seen huge gap down on expiry day.
14. Markets can take positive news or negative news, markets can not take uncertainty.
15. Markets may stabilise around yesterday's level.
16. Reliance was also looking bullish in yesterday's turbulent market.
17. So the downside seems to be limited.
18. That is why I sold Bank Nifty 31500PE and 310000PE and Nifty 11950PE and 11900PE in my personal portfolio.
19. This time I have done without any hedge.
20. Already sitting with good profit and can maintain stop loss as long as there is no big gap down.
21. Nifty is likely to expire between 12000 and 12200 by tomorrow.
22. For today Nifty may trade between 11150 and 11250.