Pre Market Report, February 23, 2015 | Stocks and Commodities

February 23, 2015
Time: 8.30 am

Pre Market Report:

1. SGX Nifty is trading at 8853 after hitting a high of 8880.
2. Most Asian markets are trading cautiously positive.
3. Hong Kong trading negative as it was closed for the last few days.
4. Yes Bank and Idea will be included in Nifty.
5. DLF and JSPL will be removed from Nifty. The only real estate stock, DLF, is being removed from Nifty. There will be no representation of real estate sector in Nifty.
6. SBI will react to the news of preference issue to the Government.
7. Highest open interest are at 8800 put and 9000 call. So Nifty is expected to trade in this range until expiry.
8. Son one can sell 8700 put with appropriate stop loss if Nifty trades closer to 8800.
9. The same way, one call sell 9100 Call if Nifty trades closer to 9000, which may not happen today.
10. There is huge short by FIIs in F&O segment, so any short covering will take Nifty towards 9000.
11. Nifty is expected to trade with high volatility ahead of expiry on Thursday.
12. Today Nifty future should find support at 8820 as 8800 Put has the highest open interest.
13. Nifty future may find resistance around 8900.