Pre Market Report, June 21, 2017 | Stocks and Commodities

June 20, 2017
Time: 8.15 am

Pre Market Report:

1. Everyone agree that we are in a bull market.
2. But what everyone could not digest is that markets are not even giving 100 point correction.
3. In June series, 16 trading sessions are over, Nifty future has been trading between 9590 and 9690.
4. Not only India, entire world markets are in bull grip.
5. Yesterday once again US markets have closed at record high.
6. In Asia most markets are positive.
7. But China and Hong Kong are lagging.
8. That is why SGX Nifty is trading slightly lower at 9675.
9. FIIs continue to sell in both Cash and F&O markets.
10. It is the Mutual Fund money that is driving the markets higher.
11. Now the next big question is that whether Nifty is going to break 9700 and head towards 9800 or going to trade between 9600 and 9700?
12. In fact, it is due to short covering Nifty future premium expanded.
13. Nifty Cash settled at 9657 which is not impressive by any standard.
14. Broder markets did not perform well, it is the handful of stocks that drove the indices higher.
15. So in my opinion, markets may trade lackluster for next few days and then may breakout next week.
16. So Nifty future may once again trade between 9600 and 9700 frustrating all the future traders.
17. This month is very good for those who sold both Puts and Calls at a distance.
18. In the beginning of this month I suggested selling Nifty 9200 Put and 9800 Call, which has given handsome return.
19. In the middle of the series, I suggested selling Nifty 9700 Put at Rs 150 (I sold at Rs 157) and go short in Futures if Nifty future breaks 9550.
20. This strategy also have given good return.
21. Now one can keep a stop loss at Rs 120.
22. Bank Nifty looking more bullish and that too without PSU Banks support.
23. Axis Bank is coming out of 500-520 range and may breakout if markets are firm.
24. Indi VIX closed lower for second day, also closed below 11 for second day.
25. Nifty future may trade between 9620 and 9720.