Pre Market Report, November 10, 2015 | Stocks and Commodities

November 10, 2015
Time: 8.35 am

Pre Market Report:

1. Markets fell 10 out of last 11 sessions.
2. It looks today evening it will be '11 sessions out of last 12 sessions' 
3. Our markets fell when global markets were moving higher due to Bihar.
4. Now when global markets move lower, we will also move lower.
5. US markets fell due to global growth concern.
6. Asian markets are all down.
7. SGX Nifty is trading between 7860 and 7880, the range where Nifty future was trading for most part of the day yesterday.
8. From now on, we will move along with the global markets.
9. Many smaller PSU Banks declared good results and hence PSU Banks did not fall.
10. Auto sector also did very well, Tata Motors was up despite declaring about Rs 2500 crore loss.
11. Nifty may open gap down and stabilise at lower levels as traders will not take aggressive positions ahead of holidays.
12. I expect Nifty future future to trade between 7860 and 7900 for most part of the day.
13. There may be some sharp move towards the end of the day, in case if there are more shorts in the system.
14. I also expect India VIX to continue to fall and hence the option premiums.
15. Yesterday I suggested selling Nifty 8200 and above Call and Bank Nifty 18000 and above Call. Those who have created that position can hold until maturity.
16. Earlier, I said the Nifty range is 7800 to 8300.
17. Now I change the range to 7700 to 8200.
18. Focus may be on the stocks. People are timing the market. When markets are in panic, people are buying shares of companies that declared good results. Yesterday look at the Maruti pattern, within few minutes it turned positive and held on to the gains until the end of the day.
19. Avoid stocks that declared bad results or there is negative news.
20. Those who want to sell options today can consider selling Nifty 7700 Put and 8200 Call and Bank Nifty 16000 Put and 18000 Call.