Pre Market Report, February 18, 2014 | Stocks and Commodities

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February 18, 2014
Time: 8.30 am

Pre Market Report:

1. Global cues are benign as US markets closed yesterday.
2. Most Asian markets are down and Japan is up due to Bank of Japan meeting.
3. SGX Nifty is trading at 6083.
4. Due to to the absence of news flow and strong FII buying yesterday, markets are likely to trade sideways with positive bias.
5. Nifty future will face resistance at 6120.
6. Support is at 6060.
7. Auto sector should continue to do well.
8. Auro Pharma open interest is already 91% which is likely to cross 95% today.
9. If that happens, tomorrow it will come under "Ban".
10. So any put or call, we have to sell by today.
11. Nifty spot has been trading between 6000 and 6100 for the last 12 trading session in this February series.
12. Today also the same is expected.
13. That is the reason for more than 1 crore open interest at 6000 Put option.