Pre Market Report, November 7, 2019 | Stocks and Commodities

November 7, 2019
Time: 8.15 am




Pre Market Report:

1. Over 1000 people have registered for viewing my Online Trading Summit 2019 through my link.
2. That is the second highest among all speakers referrals.
3.  Not sure how many people have watched.
4. Free viewing is over, from now it will be paid one.
5. For Chennai workshop, we have closed registration for General public.
6. Still we can accommodate one or two more, if any of our followers interested.
7. For Mumbai, registration is still open.
8. Coming to markets, yesterday markets shot up due to short covering.
9. Nifty future premium expanded to 45 points.
10. Bank Nifty fell 250 points and then shot up 700 points.
11. ICICI Bank hit all time high.
12. Now we are at striking distance from all time high.
13. But broader markets are still not doing well.
14. For example, on Jan 31, 2018, Nifty closed around 11000.
15. Now it is 12000, but my investment in HDFC Balanced Fund has given negative return of about 6%.
16. That means it has under performed the Nifty by more than 15%.
17. Even after nearly 2 years, sitting with loss.
18. That is due to huge under performance by mid cap and small cap stocks.
19. FIIs have bought for more than 1000 crores yesterday.
20. In March series, Nifty was up from 10700 to 11700, a 1000 point rally.
21. Same way, two weeks before, Nifty was around 11100, so logically Nifty will touch 12100.
22. Reasons I have already given earlier.
23. Yesterday PSU Banks under performed.
24. Real Estate companies will be in focus as Govt announced 25K crore AIF.
25. Housing Finance companies may also be in focus.
26. Highest OI among Puts is at 11900 for Nifty.
27. So Nifty is not likely to close below 11900.
28. Huge OI added at 11950 yesterday due to spike in Nifty.
29. Bank Nifty has highest OI among Puts at 30000 and highest OI among Calls at 31000.
30. Bank Nifty 30500PE added huge OI.
31. Bank Nifty is likely to expire between 30500 and 31000.
32. Nifty is likely to expire between 11950 and 12050.
33. Premium of Nifty future and Bank Nifty future may come down.
34. Markets may not touch all time high due to expiry related issues.
35. We can expect Nifty to touch all time high tomorrow, if global cues are good.
36. Every dip is a buying opportunity for traders.
37. I am waiting to exit my Nifty future long positions around 12100.
38. Markets will be volatile as huge amount shares are being bought by FIIs and sold by DIIs.
39. Nifty future may trade between 11960 and 12100.
40. Bank Nifty future may trade between 30500 and 31000.