Pre Market Report, September 22, 2017 | Stocks and Commodities

September 22, 2017
Time: 8.45 am

Pre Market Report:

1. US markets closed lower.
2. Asian markets are mostly lower.
3. SGX Nifty tested yesterday's low.
4. We are facing mulyiple problems now.
5. First, FII selling. They keep selling no matter what is the market position.
6. Second, our currency falling to 11 month low.
7. Third, North Korea announcing possible Nuclear blast in Pacific.
8. Fourth, China's downgrade.
9. Fifth, GST collection is not upto the mark.
10. Sixth, Govt. talking of stimulus means Govt agree that there is something wrong with the economy.
11. Yesterday Pharma and IT stocks did well mainly due to depreciation of Rupee.
12. FIIs have sold for more than Rs 1000 crores for three consecutive days.
13. I remember when they did this last time, Nifty fell from 6000 to 5000, more than 15%.
14. But this time that may not be the case as DII money is flowing like water.
15. So it is time to be cautious.
16. I sold Bank Nifty 25200CE yesterday.
17. We also need to see how the subscription goes for SBI Life. It may just get slightly more than 1 time subscription.
18. But what we need to watch is the retail category subscription.
19. As of yesterday retail subscription was only 16%.
20. Markets may be volatile.
21. Nifty is expected to expire next week between 9900 and 10200.
22. I am keeping positions light due to uncertainties.
23. Selling Put option only in December expiry. I am prepared to sell if December Nifty 9000PE at Rs 40.
24. Yesterday I sold at Rs 39 and squared off at Rs 37.
25. Today Nifty future may trade within yesterday's range of 10070 and 10160.