Pre Market Report, October 6, 2017 | Stocks and Commodities

October 6, 2017
Time: 8.45 am

Pre Market Report:

1. It is boring to write "Pre Market Report".
2. That is because nothing has changed.
3. Everyday US markets hit all time high.
4. Every time Asian markets are good.
5. Every time FIIs sell in Cash market and DIIs buy in Cash market.
6. Every time FIIs buy in F&O market.
7. But still markets move from 9700 to 10150 and back to 9700 and again 9950.
8. Today things may change as something is going on in Delhi.
9. We can expect some good news from GST Council meeting.
10. As expected markets are consolidating.
11. I expect markets to be in consolidation mode for next few days until corporate results are out.
12. In between there may be some spike if there is any news from Delhi.
13. Bank Nifty has been under performing for the last few days.
14. So if there is any good news, Bank Nifty may go for short covering rally.
15. I am selling Bank Nifty Put options at 23000, 22500, 22400, 22300 and 22200.
16. I also bought Bank Nifty 24000PE and sold triple the quantity of 23500PE and some additional PE at 23000.
17. Both Bank Nifty 23000PE and 25000CE keep falling in the last few days.
18. I sold both 24200PE and CE for a combined premium of Rs 700, now it is trading at Rs 550. Rs 150 per dshare is the profit in just 4 trading sessions.
19. There may be some sharp move towards the end of the day either due to weekend factors or in anticipation of some good news from GST Council.
20. Otherwise Nifty future is expected to trade between 9900 to 9980.