Pre Market Report, March 19, 2018 | Stocks and Commodities

March 19, 2018
Time: 8.35 am

Pre Market Report:

1. US markets closed in Green last Friday but were off the highs.
2. There was some basket selling in the last few minutes.
3. Asian markets are mostly negative.
4. Only Hong Kong and China turned positive after opening negative.
5. SGX Nifty tested 1080 and now trading around 10220.
6. Local cues are likely to dominate our markets.
7. No confidence motion will create some negative sentiment.
8. Buy Govt. is not likely to lose as they have the numbers.
9. Now we are very close to 200DMA of 10160.
10. FIIs did not sell aggressively, they just sold for Rs 150 crores.
11. So in this kind of situation, risk reward is not good for short sellers.
12. Si I hope no more shorts created on top of more than Rs 4000 crore  worth of shorts created on Friday.
13. I bought 10200PE and sold 2.5 times 10000PE.
14. This strategy will give good profit if Nifty settles between 10000 and 10200.
15. There will be no loss if markets move higher.
16. There will be losses if Nifty breaks 10000.
17. Today I am planning to buy Bank Nifty 24500PE and sell double the quantity of 24000PE.
18. I am expecting good support for Nifty at 10000 and Bank Nifty 24000.
19. We can expect one more week of volatility.
20. Nifty future is likely to trade between 10180 and 10280.
21. Breaking below 10180, Nifty future will slide to 10120 very fast.
22. That is my expectation, let us see what happens.