Pre Market Report, June 08, 2020 | Stocks and Commodities

June 07, 2020
Time: 8 am

Pre Market Report:

1. US markets shot up on Friday on the back of good jobs data.
2. Asian markets are higher.
3. SGX Nifty is higher and trading around 10250.
4. RIL hit fresh 52 week high of 1618 and then corrected by about Rs 40.
5. SBI results were very good.
6. Bank Nifty shot up 300 points in last half an hour.
7. At the end of the day both FIIs and DIIs were net buyers for less than Rs 100 crores.
8. FIIs bought for Rs 97 crores and DIIs bought for Rs 47 crores.
9. Nifty future closed near the resistance of 10200.
10. Now SGX Nifty indicates a gap up open, but the gap up may not sustain.
11. At least one time Nifty future will trade below 10200 today.
12. Then it is just my gut feeling, I may be wrong.
13. If Nifty trades consistently above 10200, then trading range for this series may be shifted to 10000-10500.
14. L&T came out with good results.
15. FIIs reducing the buying in Cash market, selling more Calls in F&O, Crude trading above US$40, all these point to consolidation or slight dip.
16. I bought SBI 180CE and sold 2X200CE before the results. After the results, SBI shot up nearly 10%.
17. Hope it finds resistance around 200.
18. One more investment in JIO.
19. So Reliance will be in focus.
20. Nifty future may trade between 10100 and 10300.