Pre Market Report, February 11, 2014 | Stocks and Commodities

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February 11, 2014
Time: 8.15 am

Pre Market Report:

1. US markets rose after trading lower for most part of the day.
2. All Asian markets are up.
3. SGX Nifty is trading 12 points higher.
4. But FII selling continues here.
5. So markets will be choppy.
6. Markets will not rise significantly as long as FIIs are selling.
7. But domestic buy is very strong.
8. Corporate results are also good and that is supporting the market.
9. Nifty future will find resistance at 6100.
10. Support will be at 6020.

 Follow up:

1. Last Sunday, in our weekly strategy, we suggested selling Tata Motors 330 Put and 400 Call option. Tata motors declared results yesterday after the markets close. Net profit rose by 200% against the market expectation of 100%. Today Tata Motors is likely to open gap up by 4 to 5%. Those who have sold 330 Put and 400 Call, now may sell additional Puts.
2. Previous week, we suggested selling Auro Pharma 400 Put and 530 Call. Positions are safe as of now. Auro Pharma is in ban period. So please wait for the script to come out of ban period for further suggestions.