Pre Market Report, April 13, 2017 | Stocks and Commodities

April 13, 2017
Time: 8.45 am

Pre Market Report:

1. US markets closed lower.
2. But Asian markets are mixed.
3. SGX Nifty is trading around 9200.
4. North Korea tension is easing.
5. Trump said he will not brand China as Currency manipulator.
6. So US dollar is down.
7. Yesterday markets were highly volatile due to North Korea tension.
8. DIIs continue to buy more than what FIIs are selling in Cash market.
9. In F&O, there is huge buying of options by FIIs.
10. This indicates a sharp move on either side in the next few days.
11. Nifty has been consolidating in a very narrow range for more than a week.
12. Infosys results will decide the direction of the markets in the short term.
13. Infosys said it will declare results by 9 am but last time they have delayed by more than half an hour.
14. I sold Infosys 900 Put at Rs 10 and 1080 Call at Rs 4.
15. I am taking slightly bullish view of Infosys as the stock is already trading 30% below the 52 week high while Nifty is trading around 52 week high.
16. That is why I sold Put option at Rs 70 below and Call at Rs 110 above.
17. In addition, I sold Nifty 9000 Put and 9500 Call.
18. Difficult to predict the market levels without knowing Infosys results.
19. But still Nifty will face stiff resistance around 9280.
20. Support should be at yesterday's low of 9170.