Pre Market Report, December 24, 2013 | Stocks and Commodities

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December 24, 2013
Time: 8.55 am

Pre Market Report:

1. US markets closed positive due to Apple deal with China.
2. Most Asian markets are up.
3. SGX Nifty is trading mild positive as there was a fall of about 40 points towards the end of the session yesterday.
4. Ahead of holiday, traders will like to square off their trades and also traders will rollover the positions.
5. This will add to the volatility.
6. Yesterday there was an attempt to trade firmly higher than 6320, but failed.
7. Even after trading close to 6340, highest open interest is at 6300.
8. One more attempt to trade above 6320 in cash, short covering will set in, that will take Nifty to 6380.
9. Today Nifty future has support at 6280.
10. Today's resistance is at 6340 which is a minor resistance, once that is broken, next target is 6380.

Recommendation:

Since there is only one more trading session and global cues are good, sell Nifty 6250 Put option and 6400 Call option.