Pre Market Report, December 28, 2017 | Stocks and Commodities

December 28, 2017
Time: 8.40 am

Pre Market Report:

1. US markets closed marginally higher in a thin trade.
2. Asian markets are mostly positive.
3. Yesterday the going was very good in the morning.
4. In the afternoon, the news came that Govt. is planning to borrow Rs 50,000 crore more.
5. That may lead to higher fiscal deficit.
6. That spooked the Banking stocks.
7. Bank Nifty fell nearly 300 points from the peak.
8. Bank Nifty has under performed Nifty in December series.
9. FIIs were net buyers in Cash as well as F&O markets.
10. DIIs have sold for 200 plus crores.
11. SGX Nifty is trading around 10525.
12. As I stated earlier, Nifty is likely to trade between 10380 and 10620.
13. Today it seems that expiry will be between 10520 and 10580.
14. There may be some short covering rally in Bank Nifty at the end of the day.
15. Pharma stocks are looking good.
16. Crude trading above US$65 is a problem for India.
17. I plan to sell 10600CE and 10400PE for intraday.
18. As the market moves, I will adjust the positions.
19. Bank Nifty, I plan to sell 25200, 25100, 25000PE depending upon the premium.
20. On higher side, I plan to sell 25800CE, 25900CE and 26000CE.