Pre Market Report, April 17, 2017 | Stocks and Commodities

April 17, 2017
Time: 8.15 am

Pre Market Report:

1. US markets fell on Friday due to North Korea tension.
2. On Sunday, missile launch by North Korea failed.
3. So South Korea market is up today.
4. Many other markets are either closed or down.
5. SGX Nifty is also down by about 30 points.
6. Now SGX Nifty is trading around 9150.
7. FIIs were net sellers for the last 5 trading sessions, which is not good.
8. However DIIs have bought more than what FIIs have sold.
9. Dollar index is down and trading at 5 months low.
10. Infosys and other IT stocks were responsible for Friday's fall here.
11. Next key results will be from IndusInd Bank and HDFC Bank on 19th and 21st of April.
12. Though IT stocks fell, Banking stocks were up on Friday.
13. Many speculative positions will build up as many Private Sector Banks are set to declare results in the next two weeks.
14. Earlier I have mentioned that Nifty is likely to trade between 9000 and 9500 and hence sold 9000 Put and 9500 Call.
15. If Nifty future falls below 9150, then I would consider selling 9400 Call options.
16. Usually May series will be a correction series.
17. So it will be good to sell some May options also. I intend to sell May Nifty 9500 and 9600 Call options.
18. Today Bank Nifty will be in focus again due to WPI Inflation data.
19. China GDP came slightly better than expected, yet China markets are falling.
20. Fall may be due to North Korea issue.
21. I will be happy id markets consolidate for next few days.
22. I have sold Bank Nifty 21000, 20900, 20800, 20700, 20600 and 20500 Puts and 22000, 22100, 22200, 22300, 22400 and 22500 Calls.
23. Today I expect Nifty future to take support at 9120.
24. Resistance will be at 9220.