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

October 11, 2017
Time: 8.15 am

Pre Market Report:

1. US Markets closed at all time high once again.
2. Asian markets are higher.
3. SGX Nifty hit 10080, now trading at 10070.
4. Yesterday Nifty decissively crossed 9990 which 61.8% Fibbonnacci retracement.
5. Also Nifty 10000 is a psychological level.
6. So logically next step will be all time high.
7. FIIs have sold heavily in 2008 when the entire world markets collapsed after Lehman Brother's collapse.
8. This time is the second heaviest selling by FIIs in the History of Indian Stock market.
9. But this time huge flow of money to mutual funds prevented the markets from collapsing.
10. We are near all time high just ahead of corporate results.
11. If corporate results are good, then Nifty will cross all time high.
12. This time I have taken bullish view and sold only Put options.
13. Just for safety I also bought some Put options.
14. But did not sell any Call option.
15. But open interest figures are conflicting.
16. Nifty 10000CE has highest open interest which is in the money.
17. At the same time Bank Nifty 24500PE has the highest open interest among Puts.
18. With FII selling coming down, market is waiting for the corporate results to breakout.
19. IndusInd Bank, TCS, Kotak Bank and Reliance will be in focus as they declare results in the next two days.
20. Nifty future may trade between 10020 and 10120.