Pre Market Report, December 27, 2017 | Stocks and Commodities

December 27, 2017
Time: 8.55 am

Pre Market Report:

1. US markets closed slightly lower.
2. But Asian markets are mixed.
3. SGX Nifty is almost flat with some negative bias.
4. Yesterday FII turnover was much less as expected.
5. But DIIs continue to buy in order to show better NAV at the end of the year.
6. Indian Army conducted a surgical strike and killed three Pak soldiers.
7. This news came yesterday morning and everyone was waiting for fall in the market.
8. Since there was no selling by FIIs, there was no one to trigger the downfall.
9. Expecting this fall many have gone short.
10. When DIIs started buying, they had to square up the shorts.
11. Nifty and Bank Nifty shot up in the last half an hour.
12. Reliance broke out yesterday, we need to see how reliance moves today.
13. HDFC Bank was holding the Bank Nifty down yesterday until 3 pm.
14. I am not expecting any big moves today or tomorrow.
15. As I stated earlier, I am expecting Nifty to trade between 10380 and 10620.
16. Now Nifty is almost in the middle of this range.
17. Yesterday I sold lot of Put options at 10350, 10300 and 10200.
18. Also sold Nifty 10650CE.
19. In Bank Nifty I sold 25000PE and 26000CE.
20. Today also I will be looking to sell the same strikes.
21. Due to low volume and rollovers, there may be some volatility.
22. Nifty future is likely to trade between 10460 and 10550.