Pre Market Report, January 22, 2018 | Stocks and Commodities

January 22, 2018
Time: 8.35 am

Pre Market Report:

1. US markets closed at another all time high on Friday.
2. Markets ignored the possible US Govt. shut down.
3. The deal was not reached until now and if no deal reached by tonight, US Govt will have to shut down.
4. This has happened in the past few times.
5. Asian markets started well but could not sustain the gains due to this US Govt. shut down news.
6. SGX Nifty hit a high of 10962 but now trading flat at 10913.
7. As I have stated many times, we may not follow global cues, at least until budget.
8. We need to see how Reliance reacts to its results.
9. Axis Bank will be in focus ahead of its results.
10. Bank Nifty shot up more than 450 points from intraday low on Friday.
11. All Indian ADRs were up in US.
12. I sold 10550, 10500, 10400 put options aggressively.
13. Sold some Call options at 11100 also.
14. PE sellers have made good amount of money this time as markets broke out.
15. All the results declared on Friday were good.
16. Markets may consolidate the gains made in the last few days.
17. Budget is not far away, so the VIX may rise ahead of the budget.
18. I bought Feb. 10400PE and then sold 10300, 10200, 10100 and 10000PE.
19. Earlier, about 15 days before, I bought 10000PE and sold 9800, 9700, 9600, 9500PE. They all have given good profit.
20. I have also sold March 10000 aggressively.
21. Markets are in the firm grip of bulls, so if there is any intraday fall of more than 50 points in Nifty, buying will emerge.
22. So I will sell more PEs during intraday falls.
23. Nifty future may trade between 10880 and 10980.