Pre Market Report, January 8, 2018 | Stocks and Commodities

January 8, 2018
Time: 8.45 am

Pre Market Report:

1. Asian markets are firm and trading at historic highs.
2. SGX Nifty hit a high of 10649.
3. Now it is trading around 10625.
4. On Friday morning I said our markets will breakout.
5. So we are going to Results season with bullish market set up.
6. There was short covering rally in IndusInd Bank, the first key company set to declare results this week.
7. Bank Nifty has been under performing the Nifty for the last few weeks, that may change, if corporate results are good from Banking sector.
8. IndusInd Bank, Kotak Bank, HDFC Bank, Yes Bank are set to declare results in the next 10 trading sessions.
9. I have already mentioned that 10400 to 11000 is the range for this series.
10. My target is 10800 for this series, if corporate results are good. Let us see whether my guess goes right.
11. I went long in HDFC bank at 1960 and sold 1860CE for Rs 30. I am long in two lots, so my maximum profit potential is Rs 30000, if HDFC closes above 1860 by the end of this series.
12. On Friday, I sold lot of 10100PE.
13. Today I am planning to sell 10200PE.
14. I do not expect Nifty to fall below 10200 in this series, even if corporate results are not good.
15. I have sold Maruti 9000PE and 10300CE also.
16. Reason: Crude prices are higher, so MAruti may not cross all time high of Rs 10000. At the same time, falling to 9000 means 10% correction from the peak, so buying will emerge as it is a bluest of blue chip stock.
17. I plan to create some strategy this week in IndusInd Bank and Infosys for results play.
18. Most of the people are bearish, as long as these people are bearish, markets will go up.
19. Markets will correct only when all these people turn bulls.
20. Until then enjoy the bull ride.
21. I have invested lot of money, about Rs 2.5 crore, in mutual fund only last week, I am already sitting with 2% return.
22. Nifty future may trade between 10580 and 10680.