Pre Market Report, September 5, 2017 | Stocks and Commodities

September 5, 2017
Time: 8.55 am

Pre Market Report:

1. Wishing all my Teaching Friends "Happy Teachers Day"
2. I am Teacher first then only stock market expert.
3. US markets were closed yesterday and that is a good news as we do not have react to US markets.
4. Most Asian markets are flat with some positive and some negative bias.
5. The markets which are slightly positive are North Korea friendly markets.
6. Moreover, yesterday afternoon announcement of possible launch if ICBM by North Korea has not been factored into some Asian markets yesterday as they were closed by the time the news broke out.
7. I feel that yesterday market reaction was an abberarion, India was the worst performing country yesterday.
8. When I gave the level of 9960 for support, this possible launch of ICBM news was not there.
9. So markets may not fall significantly from here.
10. At the same time, markets may not move significantly higher also.
11. That is because of both FII and DII selling yesterday, first time in last many weeks.
12. So markets may be rangebound with high volatility for few more days.
13. The fear of North Korea issue will be there for few more days.
14. But market has given a very good opportunity for option sellers yesterday.
15. I sold Nifty 9500, 9400, 9300, 9200 Put options at good premiums as India VIX shot by more than 18% at one point.
16. On the higher side, I sold 10200, 10300 and 10400 Call options.
17. I am expecting the range of 9700-10200 for this month.
18. I may change this view once this North Korea related fear subsides.
19. HDFC Bank holds the key for Bank Nifty.
20. Today Nifty future may trade between 9880 and 9980.