Pre Market Report, October 17, 2013 | Stocks and Commodities

P R Sundar, Aditya Trading Solutions

October 17, 2013
Time: 8.30 am

Pre Market Report:

1. The Biggest event of the month, US Debt ceiling issue is over.
2. Good thing is that it is over with positive effect.
3. TCS and Bajaj Auto declared very good results.
4. Just now, HCL Tech also declared good results.
5. From now VIX will fall and hence the option premium.
6. IT and Auto sector looks good.
7. Banking stocks waiting for some more good results as the market was not happy with HDFC bank result.
8. So now the only drag is Banking sectors, as IT, Auto and Oil and Gas sectors are looking good.
9. FIIs continue to buy heavily.
10. They will continue to buy, once the supply dries from DII side, market will go up.

Recommendation:

1. Sell 5700 Put option or 5800 Put option depending upon your risk profile.
2. Nifty is not likely to fall below 5800 until expiry even if there are some bad results from Banking Sector.