Pre Market Report, September 29, 2016 | Stocks and Commodities

September 29, 2016
Time: 8.15 am

Pre Market Report:

1. US markets closed higher after Dovish comment from Fed Chairman Janet Yellen and OPEC decision to freeze to Crude output.
2. Due to OPEC decision, Crude prices shot up by 6%.
3. So Oil and Gas sector helped the world markets to recover from their multi week lows.
4. SGX Nifty is trading above 8800, right now at 8805.
5. We can expect some short covering rally as our markets are down from about 9000 level.
6. Yesterday FIIs have turned net buyers in Cash market though their buying is very small.
7. Though markets are weak, things look bullish in the next series.
8. Usually next month Nifty future will trade at a premium of 30 to 40 points but now trading at 45 points premium.
9. Usually next month Bank Nifty future will trade at a premium of 100 points but now trading at 125 points premium.
10. Next week RBI policy may be one of the reasons for bullishness.
11. Even Bank Nifty 21500 Call is trading at Rs 20, giving 4% return 9for those who py only Span margin) for just 19 trading session.
12. October series has only 18 trading sessions.
13. Today ICICI Pru. will be listed and that may add positive sentiment to ICICI Bank.
14. Expiry day trade will be difficult to predict.
15. But Nifty is likely to expire between 8760 and 8840.
16. I do have lot of 8850 Calls and 8700 Puts.
17. I also have lot of Bank Nifty 20000 Calls.
18. Hope Nifty expires below 8850 and Bank Nifty below 20000.
19. Heavily beaten down stocks like Axis Bank, Tata Motors in this series may see some short covering.
20. Anil Ambani stocks will also be in focus.