Pre Market Report, October 3, 2017 | Stocks and Commodities

October 3, 2017
Time: 8.55 am

Pre Market Report:

1. US markets closed at all time high once again.
2. Asian markets are very much in Green.
3. Hong Seng is up by more than 400 points.
4. SGX Nifty almost hit 9900.
5. This is the first time in last many months Nifty is likely to open more than 100 points gap up.
6. Also Nifty is likely to open above yesterday's high.
7. Crude is down (but in Delhi Diesel prices are at all time high).
8. Gold is down. Demand has come down even during Dasera festival.
9. Everyone is talking about slow down in Economy, bad market conditions, etc.
10. But Auto sales figures are not showing any slow down.
11. Buying a car is a luxury decision, still sales keep growing.
12. Tata Motors will be in focus as they got 10000 Electric Vehicles contract from Govt. and highest slaes figure in the last many years.
13. IT stocks will also be in focus mainly due to TCS news.
14. Good global cues, short covering (as markets fell drastically in the last one hour on Friday), Speculation due to RBI policy, etc will fire the markets.
15. I will not be surprised even if Nifty future touches 9920 in today's trade.
16. This is the first time I only sold Put options.
17. Now I am trying to incorporate some technicals and try to take directional view.
18. On Friday I sold Bank Nifty 22500, 22300PE, Nifty 9200PE.
19. Also I sold December 9000PE heavily. 
20. In addition I also sold December 9500PE.
21. All these I sold when Nifty future came to 9820 from 9880.
22. Only for December 9500PE, I will be buying half the quantity of December 9700PE if Nifty future comes down to 9820.
23. Otherwise, I will just leave them.
24. I plan to go short, partially, if Nifty future breaks down 9700.