Pre MArket Report, October 28, 2013 | Stocks and Commodities

P R Sundar, Aditya Trading Solutions

October 28, 2013
Time: 8 am

Pre Market Report:

1. We have reported in "Dalal Street Week Ahead" that today markets will open positive.
2. As reported, Asian markets are trading positive and Nifty is likely to open around 6200.
3. By short covering, Nifty may touch 6220 within 15 minutes of market open.
4. SGX Nifty is trading around 6200.
5. The data coming from US have been on the negative side and hence Fed tapering fear is getting out of the market.
6. Tomorrow, RBI policy review. Markets are not expecting anything positive. So possibility of negative surprise is very low.
7. Crude and gold trading stable.
8. Europen and US futures are trading positive.
9. Over the weekend HUL declared good results, which will add to the positive sentiment.
10. Any shorts in the system will be covered ahead of RBI policy.

Recommendation:

1. Sell Nifty 6000 Put option at the opening and if Nifty futures touches 6220 then sell Nifty 6400 Call option.