Pre Market Report, March 30, 2017 | Stocks and Commodities

March 30, 2017
Time: 8.35 am

Pre Market Report:

1. US markets closed mixed.
2. Asian markets are also trading mixed.
3. SGX Nifty is marginally higher, now trading at 9156.
4. SGX Nifty hit a high of 9183.50 in the morning trade.
5. After China and Hong Kong markets opened, SGX Nifty fell by about 20 to 25 points.
6. Yesterday seems to be the day of short covering.
7. FIIs have bought in Cash, Index Fiture and Stock Future segments after a long time.
8. Even DIIs have bought in Cash market.
9. So there was alround buying and hence there may not be any negative surprises in today's expiry day trade.
10. If all goes well, Nifty is likely to expire between 9180 and 9220.
11. BS III phase out by Auto companies dragged Auto stocks yesterday down.
12. Kotak press meet made Axis Bank highly volatile stock.
13. Axis Bank was trading 500-510 range, even I could sell 580 Call which is more than 15% higher than trading price, closed at Rs 0.50.
14. Hope volatility go down in Axis Bank as I have lot of positions in Axis Bank.
15. I sold Nifty 9000 Put at Rs 3.50 and 9250 Call at Rs 2.50, expecting Nifty to expire between these two numbers.
16. Though Bank Nifty hit all time high, Nifty is still about 60-70 points down from the recent all time high.
17. Expiry related issues may make markets volatile, but still end of the day we can expect Nifty to close positively.
18. We need to see whether Bank Nifty sustains the upward momentum.
19. Nifty future may trade between 9120 and 9220.
20. We need to see the highly beaten down stocks to see if there is any short covering in those stocks, which in turn will propel the Nifty to all time high.