Pre Market Report, February 7, 2018 | Stocks and Commodities

February 7, 2018
Time: 9 am

Pre Market Report:

1. I could not write the pre market report for the last two days as my internet was down and by the time rectified, markets opened.
2. Just two days, whole thing changed.
3. Dow fell 1400 points during the market hours and fell another 1400 points after the market hours, creating panic all over the world.
4. Then again, shot up 1100 points during the 'after market hours' and shot up another 800 points yesterday during the market hours.
5. How many trillion dollar economy, Dow can swing 20% to 30% in just two to three days.
6. This is the ugly face of the stock market.
7. Here also, Bank Nifty fell 1200 points and then shot up 1200 points and again fell 400 points.
8. A total swing of 2800 points.
9. Traders were chopped of both sides.
10. It was a very difficult day and I had to exit all my Bank Nifty positions in panic.
11. Had booked huge loss which was almost my last 6 months profit.
12. Now re strategising to ride the volatility for few more days.
13. FIIs have sold for more than Rs 2300 crores in Cash market.
14. DIIs have bought for about Rs 1200 crores.
15. India VIX shot up above 20.
16. But far better than CBOE VIX which was above 35 yesterday.
17. Bull market correction will be sharp and swift.
18. But I have never seen this kind of sharp and swift.
19. Markets are likely to stabilise from here.
20. Significant upside is ruled out until end of March due to LTCG Tax.
21. Planning to sell 9200 put option in Nifty.
22. For the time being, planning to keep away from Bank Nifty.