Pre Market Report, March 28, 2016 | Stocks and Commodities

March 28, 2016
Time: 8.40 am

Pre Market Report:

1. After I wrote the report "Dalal Street Week Ahead", US GDP was revised to 1.4% which is a good news.
2. So Asian markets are firm though many markets are closed.
3. Today there will be no clue from Europe as most European markets are closed.
4. US futures are up.
5. SGX Nifty is struggling below 770, now trading at 7695.
6. Market is not likely to make big moves as per options data.
7. Nifty 7600 Put has the highest open interest among Puts and Nifty 7800 Call has the highest open interest among Calls.
8. Considering the total premium of Rs 35, Nifty range is 7565 to 7835.
9. There are no key trigger locally except RBI rate cut expectation.
10. There seems to be some tiredness among bulls which may lead to some small correction.
11. Banking stocks will be in focus as RBI relaxed some rules.
12. Metal stocks will be in focus as metal stocks fell in US on Thursday.
13. Crude oil prices are stabilising after falling more than 5% last week, so energy stocks will be in focus.
14. Nifty future is likely to trade between 7660 and 7440 today.
15. I will be selling 7850 Call if Nifty trades above 7720.
16. But I will not sell any Put option.