Pre Market Report, September 11, 2017 | Stocks and Commodities

September 11, 2017
Time: 8.25 am

Pre Market Report:

1. Last week I mentioned that if there are no more bad news Asian markets will rally.
2. Most Asian markets are higher by 1%.
3. SGX Nifty is trading around 9990, higher than last Tuesday and Thursday high of 9982.
4. Though there was no missile lauch or nuclear bomb, the war of words is still going on.
5. That has to subside for markets to start rally.
6. Otherwise todays rally may only be a relief rally.
7. Dow futures is up by more than 100 point.
8. This is a significant gap up considering Irma.
9. Auto stocks will be in focus as the Cess hike was less than expected.
10. Nifty future is likely to cross 10000 figure once again, whether it is going to sustain above that figure is a million dollar question.
11. Nifty future may or may not sustain above 10000, but India VIX is likley to move lower significantly.
12. On Friday Nifty was up by 20 points at one point of time but December Nifty 9000 PE was trading higher than the previous day.
13. I sold huge quantities of Dec. Nifty 9000 PE at Rs 54 to 55.50.
14. I expect the price to be lower than Rs 50.
15. There was huge addition of open interest in Put option mainly due to buyers expecting some bad news from North Korea.
16. Those people are likely to lose heavily.
17. Even 9900 PE added more than 5 lakh shares in open interest on Friday.
18. While writing this blog, SGX Nifty has crossed 10000 and now trading at 10007.
19. Bank Nifty has been strong and likely to cross 24500.
20. Bank Nifty 25000PE has more than 8 lakh shares in open interest, that is an interesting figure.
21. Nifty future is likely to face resistance at 10020-10030 range.
22. No need to talk about support today, Nifty future may take support at 9980.