Pre Market Report, November 22, 2017 | Stocks and Commodities

November 22, 2017
Time: 8.45 am

Pre Market Report:

1. US markets closed higher once again.
2. Asian markets are firmly in Green.
3. Hong Send index has crossed 30,000 figure.
4. Our markets were in the firm bull grip yesterday until afternoon and then some profit booking dragged the Nifty by more than 50 points and Bank Nifty more than 100 points.
5. But both indices recovered some of the losses at the end of the day.
6. Now SGX Nifty is trading closer to yesterday's high.
7. If our markets open higher than yesterday's high, then the sentiment will be vry good and Nifty may head towards 10500 by the end of this expiry.
8. FIIs were net sellers in Cash market as well as F&O market.
9. So the real short covering has not happened yet.
10. If there is one, then Nifty may cross all time high by the end of this expiry.
11. As I suggested earlier, more than 50 points intraday fall, time to sell Put options.
12. But keep a good distance, I started selling 10,100 put options in Nifty and 24500 put options in Bank Nifty.
13. As I said earlier, Nifty is likely to trade between 10200 and 10500 for next few days.
14. Since this is the fourth week, option premiums are falling.
15. Once option premiums go very low, then I am planning to close all my November positions and shift to January series.
16. Right now, I am planning to buy 10200PE in January and sell 10000 and below PEs.
17. The same set up I did in December series, now sitting with good profit.
18. During the correction, I also went long, one lot in every private sector bank and Reliance.
19. That strategy has rewarded me very well.
20. One of my clients account, I have already made Rs 95 lakhs profit this financial year.
21. Very soon it will reach Rs 1 crore.
22. Today Nifty future is likely to trade between 10340 and 10420.