Pre Market Report, December 20, 2013 | Stocks and Commodities

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December 20, 2013
Time: 8.10 am

Pre Market Report:

1. US markets consolidated at the higher levels.
2. Dow was slightly up and S&P 500 and Nasdaq were down slightly.
3. Asian stocks are mixed.
4. SGX Nifty is down by 30 points.
5. FIIs buy figure of over 2000 crores was not expected considering the weakness of the market.
6. So that could be a clue for short sellers to square off their trades by the end of the day.
7. Though due to global sentiment, our markets may open lower, but short covering may set in at any time.
8. Gold for the first time cracked below US$1200, in line with our long term target of US$1000.
9. Nifty future should take support at 6140.

Recommendation:

Sell Nifty 6000 Put option and 6350 Call option.