Pre Market Report, October 11, 2013 | Stocks and Commodities

P R Sundar, Aditya Trading Solutions

October 11, 2013

Time: 8.15 am

Pre Market Report:

1. US markets shot up to its best performance this year as Debt. ceiling talks are progressing.
2. FIIs bought over 600 crores in cash market yesterday.
3. SGX Nifty is trading around 6140.
4. We have been writing in this blog that today Nifty will cross 6100.
5. Irrespective of Infy results, Nifty will cross 6100.
6. Any Infy results are not going to be bad.
7. Yesterday itself Infy option prices collapsed.
8. At best Infy will move 4 to 5% either side.
9. All Asian markets are doing well.
10. Europe and US futures are trading positive.

Recommendation:

1. Nifty is reaching the resistance levels.
2. Nifty may breakout if it crosses 6150 in cash.
3. On the hand, Nift may fall significantly as profit booking can set in at any time.
4. Sell Nifty 5700 Put option and 6500 Call option.
5. Sell Bank Nifty 12000 Call option if it trades above Rs 40 and also sell Bank Nifty 8500 Put option as Hedge.
6. Sell USDINR 60 Put option.