Pre Market Report, November 14, 2013 | Stocks and Commodities

P R Sundar, Aditya Trading Solutions

November 14, 2013,
Time: 8 am

Pre Market Report:

1. US markets started off with half a percent minus and ended up with half a percent plus.
2. Thanks to Janet Yellen's statement that US GDP and employment situation should improve before considering any Fed Tapering.
3. Results season coming to end with good note as most companies declared results yesterday are good.
4. All Asian markets are trading positive.
5. Reserve Bank Chairman Mr Raghuram Rajan's press meet yesterday helped Rupee to recover to 63.30 from the low of 63.90 at the morning trade.
6. Markets fell for 7 consecutive days without any technical bounce.
7. Janet Yellen's statement, Raghuram Rajan's press meet, good corporate results, short covering ahead of 3 day weekend will help Nifty to recover some of the lost ground.
8. Nifty future should close between 6080 and 6120 by the end of the day.
9. Option premiums will start collapsing as VIX will fall.
10. After today there will be only 9 more trading sessions, that will also be a reason for premium collapse.

Recommendation:

1. Sell Sun Pharma 600 Put option and 670 Call option which closed at Rs12.45 and Rs 5.