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Pre Market Report, April 10, 2014

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April 10, 2014
13 comments
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April 10, 2014
Time: 7.45 am

Pre Market Report:

  1. US markets rose.
  2. Most Asian markets are up.
  3. Yesterday, markets shot up beyond the range 6780-6820 because of short covering.
  4. Now SGX Nifty is trading around 6820.
  5. When people see that markets are at all time high, they will place sell orders in their mutual fund folio.
  6. So DII selling will continue.
  7. Healthy sign will be when markets consolidate in the range of 6780 to 6820 for few more days.
  8. Otherwise when corrcetion comes it will be severe, although now there are no signs of correction.
  9. Just now China trade data has been declared which is below expectation.
  10. Range for Nifty future for today will be 5780 to 5860.


Written By

Options Trader and Trainer

Comments

  1. Unknown10 April 2014 at 09:23

    (Range for Nifty future for today will be 5780 to 5860.)

    Please correct it to 6780 to 6860

    ReplyDelete
    Replies
    1. P R Sundar10 April 2014 at 13:16

      Sorry for the mistake. I was rushing to Sun TV, so the mistake.

      Delete
  2. Unknown10 April 2014 at 10:16

    Nifty time passing again to eat option buyers wealth. 6704-6826 for a week time now ... 6914 could be the max lvl for this expiry. All are Nifty spot levels..

    ReplyDelete
    Replies
    1. P R Sundar10 April 2014 at 13:17

      You are correct. Option sellers, if know how to hedge, can make killing. More profits will be in Bank Nifty. Look at our Weekly strategy.

      Delete
  3. Unknown10 April 2014 at 12:15

    Selling May 6800 Straddle seems to be a good idea as straddle is giving 630 points . So Break even is 6800-630 = 6170 on downside and 6800+630 = 7430 on upper side.

    ReplyDelete
    Replies
    1. P R Sundar10 April 2014 at 13:15

      Not a good idea at this point. You may consider this around May 10.

      Delete
    2. Unknown10 April 2014 at 15:43

      Sir. It can be sold by buying OTM Pair. Risk Reward is not bad. There is range of
      630 points and VIX is also high. It can be exited before May 10, It can be exited even before if VIX drop considerably.

      Delete
  4. Unknown10 April 2014 at 12:43

    We are at the fag end of the rally... Option selling in CE's can be done when Nifty near 6890-6930 levels. Finally Euphoria at all time high no bubble seen. US markets are very close to 5.5 years bull market which might end in Sep 2014. I would be betting on the short side.

    People are buying into Modi wave, if Modi becomes PM, then market crash is imminent

    ReplyDelete
    Replies
    1. P R Sundar10 April 2014 at 13:19

      There may not be a crash, there may be some correction as "Buy on rumor and sell on news" will happen. That too the correction may not happen immeadiately. Markets will rise one or two days then only the fall will come. By tht time traders stop loss would have triggered.

      Delete
    2. Unknown10 April 2014 at 13:44

      I'm not hopeful on Indian economy if BJP comes to power. They might mess up, things may go wrong horribly.. If 6300 gets broken, expect 5400 lvls. As of now 6366 looks strong support in case of major correction.

      Delete
  5. Unknown10 April 2014 at 12:49

    SBIN is the top pick on the short side... Poor fundamentals and NPA is definitely going to increase during sept quarter for all PSU's ..

    ReplyDelete
    Replies
    1. P R Sundar10 April 2014 at 13:19

      It will be interesting to see how these PSU banks will do after Q4 results.

      Delete
  6. Unknown10 April 2014 at 13:10

    No prediction of Market. Only selling Options with proper hedging , risk and money management Just eat Theta.

    ReplyDelete

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