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Pre Market Report, April 2, 2014

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April 02, 2014
7 comments
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April 2, 2014
Time: 8.25 am

Pre Market Report:

  1. US markets rose once again after manufacturing index rose.
  2. Most Asian markets are up.
  3. SGX Nifty is trading around 6780.
  4. As we have mentioned earlier, the next target range will be 6780-6820.
  5. Our markets rose continuously for 9 trading sessions.
  6. Today also it is likely to be up.
  7. Markets are likely to consolidate as there is no newsflow today.
  8. Tomorrow Services PMI data is due, usually Services PMI data will be better than Manufacturing PMI.
  9. Nifty is likely to take support at 6740.
  10. Resistance will be at 6800.
  11. Watch for Tata Motors and Auro Pharma.


Written By

Options Trader and Trainer

Comments

  1. Unknown2 April 2014 at 13:09

    Sir,
    India VIX, is a measure of how options are being traded.Kindly give us some light on how the premium in options is saturated To understand more about VIX and thereby some clue in positional trading.

    Regards.
    Martin

    ReplyDelete
    Replies
    1. P R Sundar2 April 2014 at 17:38

      It is difficult to explain in blog as it is a very complicated process. Higher the VIX, probability of market swing is higher (either side). Actually one need not know much about all these as markets factor in everything. This is called Market Efficient Hypothesis. We are making good amount of money by keeping our strategies very simple and Straight. (KISS- Keep It Simple and Straight). No complications, no technicals, just only profits.

      Delete
  2. Unknown2 April 2014 at 13:27

    Huge Volume in 6800 CE and 6700 PE, Nifty spot support @ 6602, 6580 ; Bank Nifty supp @ 12366, 12100 ... India Vix to rise 22.5 - 24 levels. CNX IT and Pharma to rise 2%

    ReplyDelete
    Replies
    1. P R Sundar2 April 2014 at 17:44

      See the problem of Technical people. Few days before you claimed that Pharma Index will fall, Auro Pharma, you said may go even below 400. I said I do not care, I made around Rs 27 Lakhs in the last three months, now your technicals say, Pharma will go up, Auro Pharma shot up by more than 10% in two trading sessions. Your technical about turn about in Pharma sector reminds me the joke by Vadivelu, "அது போன வாà®°à®®்! இது இந்த வாà®°à®®்!"

      Delete
    2. Unknown2 April 2014 at 19:14

      Sir, for your kind information, AuroPharma is not in CNX Pharma index ...

      Link http://www.moneycontrol.com/terminal/?index=41

      I had asked to SELL call options of Lupin, Ranbaxy, Sunph, DrReddy, Cipla 4 days before March expiry. DrReddy fell from 2800 to 2580, Sunph fell from 585 to 565, Lupin fell from 960 to 936, Cipla from 393 to 385 ... Please kindly refer to my earlier post.

      I never said AuroPh will go down immediately ... I said cautious while selling puts in Auro since the stock has run up vertically the fall can come at similar force. I also added that only Professional should SELL options as no circuit filter for F&O stocks

      Delete
    3. Unknown2 April 2014 at 19:23

      Sir, I have asked my friends to go long in IT, Pharma few days ago, this is the content ... Sir, pls don't estimate the good technical study.

      "Prabhu Veeraraghavan prabhu1023@gmail.com
      Mar 26 (7 days ago)

      to jinesh, Santhosh, Nikhil, Manoj, Kamal, amal, Fortune2020, Rajiv, shamantha, Rahul, Rocky, ravi, Krishna, Rajiv

      IT and Pharma looks interesting for April series to Go long. "

      Delete
    4. Unknown2 April 2014 at 19:24

      *underestimate

      Delete

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