Pre Market Teport, October 24, 2013 | Stocks and Commodities

P R Sundar, Aditya Trading Solutions

October 24, 2013.
Time: 8.15 am

Pre Market Report:

1. US markets fell but moderately.
2. Most Asian markets fell but recovered.
3. The recovery was due to the Chinese Manufacturing PMI that came at 50.9 vs 50.4 last month.
4. Europe is likely to open positive in the afternoon.
5. FIIs continue to buy in cash market.
6. There are no market moving results today.
7. Our market is consolidating, it may consolidate for another one or two days, then the probability of breaking out is higher than the break down.
8. By the end of expiry, Nifty is likely to cross all time high of 6357.

Recommendation:

1. Sell Nifty 6000 Put option if it trades above Rs 15.
2. Sell ICICI Bank 960 Put option and 1100 Call option.
3. Sell Bank Nifty 10000 Put option and 11700 Call option.