March 22, 2017
Time: 8.40 am
Pre Market Report:
Time: 8.40 am
Pre Market Report:
- US markets closed significantly lower.
- Though reasons are given, main reason is the profit booking.
- US markets run up significantly in the last few months.
- Asian markets are mostly lower.
- SGX Nifty is trading about 75 points lower.
- FIIs have shorted heavily in F&O.
- But FIIs are net buyers in Cash market.
- Markets are likely to consolidate between 9000 and 9300 until the end of this expiry.
- There is nothing to worry as long as Nifty future trades above 9020.
- I am planning to sell 9250 Call option if there is any slight uptick in Nifty intraday.
- Bank Nifty is looking weak, but HDFC Bank saved the Bank Nifty from collapsing.
- So we need to watch the price movement of HDFC Bank, if that starts moving down, Bank NIfty may correct significantly.
- I was slightly bullish just before state election results due to positive exit poll results, so I sold Bank Nifty 21000 Call and Put at a cobined premium of Rs 750.
- That is doing very well now as Bank Nifty hovers around 9000.
- Since Bank Nifty uderperformed yesterday, I closed most of the Put positions in Bank Nifty.
- Today markets may be down, India VIX may be up, premiums may shoot up.
- Perfect time to sell options but not in March series, but in April series.
- We do not have to worry much about Global cues as we have under performed the world markets for many months due to Demonetisation.
- Steel prices may go up and hence it is better not to short metal stocks.
- Pharma stocks are correcting, DrReddy and Divis hit 52 week lows.
- Yes Bank will be in focus as it is coming out with 1 billion QIP.
- If Nifty future holds 9070, then it good for today.
- Nifty future may trade between 9050 and 9140 today.
Comments
This comment has been removed by a blog administrator.
ReplyDeleteSir now can we buy 8900call option?
ReplyDeleteI dont think market will not fall below!!
Usually I do not buy options. I only sell options.
DeleteSo after todays fall 8850pe,8800pe selling will give profit?
ReplyDeleteyes
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