Pre Market Report, December 5, 2019 | Stocks and Commodities

December 5, 2019
Time: 8 am

Pre Market Report:

1. Yesterday markets were looking weak due to FII selling of more than 1000 crore for last 3 days.
2. Trump tweet about China deal dented the sentiment.
3. But yesterday afternoon, there was news that US-China Trade negotiations going very well despite Trump's Tweet.
4. That triggered some short covering.
5. Nifty was very volatile yesterday.
6. Bank Nifty shot up more than 600 points from intraday low.
7. ICICI Bank hit all time high.
8. Even when all other banks were falling in the morning, ICICI Bank was trading firmly in Green.
9. Late afternoon, PSU Banks shot up, due to short covering.
10. US markets closed positive yesterday night.
11. Asian markets are higher.
12. But SGX Nifty is down by about 10 points.
13. FIIs continued to sell.
14. FIIs have sold for Rs 781 crores yesterday in Cash market.
15. But DIIs have bought for more than 900 cores.
16. All Indian ADRs are up in US.
17. The talk of the Town is Reliance JIO Tariff hike.
18. We need to see how Reliance moves today.
19. It has come under severe profit booking in the last two days.
20. HDFC bank has been trading weak in the last two days.
21. Today weekly Bank Nifty expiry will be highly volatile due to RBI policy.
22. We can expect some significant move in HDFC Bank.
23. Bank Nifty has been out performing Nifty.
24. RBI is expected to cut rates by 25 basis point.
25. Somehow I have a feeling that RBI may cut rate by 15 basis point.
26. Option premiums are too low for expiry trading.
27. This makes expiry day trading very difficult.
28. YES Bank was down 10% on Tuesday and up by 10% yesterday.
29. It is under trading ban.
30. Nifty future may trade between 12020 and 12160.
31. RBI policy holds the key.