Pre Market Report, October 17, 2017 | Stocks and Commodities

October 17, 2017
Time: 8.55 am

Pre Market Report:

1. US markets closed at all time high again.
2. But Asian markets are mixed.
3. SGX Nifty hit almost 20300 yesterday night.
4. Now SGX Nifty is almost flat.
5. Last time (last Wednesday) Bank Nifty fell 400 points intraday but FIIs were net sellers in Cash market only for Rs 100 crores.
6. Yesterday also Bank Nifty fell about 400 points intraday but FIIs were net sellers in Cash market only for Rs 20 crores.
7. In F&O markets, FIIs were huge buyers and bought for about 3000 crores in Index and Stock Futures.
8. Now the base for Nifty has shifted from 9800 to 10000.
9. That is why yesterday I suggested, when there is any intraday correction, buy 10000PE and then sell 9800 and below PE.
10. When Nifty future touched 10200 yesterday I did that.
11. Option sellers are making good money now.
12. Bank Nifty expiring tomorrow are trading with good premiums.
13. Yesterday I sold 24000PE at Rs 14. Just two more days, Bank Nifty is not likely to fall below 24000.
14. In two trading sessions, we get Rs 14, which is about 2% return in just two days.
15. Monthly options are also trading at good premiums.
16. Bank Nifty hit a low of 23600 and then recovered, Nifty level at that time was 9700. But Bank Nifty 23000PE also trading at more than Rs 10.
17. Now I have lot of puts and some calls.
18. I bought 400 qty 24800CE and sold 800 qty 25000CE and 400 qty 25200CE and 400 qty 25300CE. All monthly expiry.
19. Markets may consolidate for some time as the run up is so huge.
20. From 9700 to 10260 in just 2 weeks.
21. Today Nifty future may trade between 10180 and 10280.