Pre Market Report, April 10, 2018 | Stocks and Commodities

April 10, 2018
Time: 8.30 am

Pre Market Report:

1. US markets were up in the first half following Asian markets.
2. But the news broke out that Trump's lawyer has been raided.
3. US markets wiped out most of the gains.
4. Then after market hours, Trump spoke soft on China.
5. China President Xi also spoke in a positive manner today morning.
6. So Asian markets have shot up.
7. SGX Nifty closed at 10365 yesterday night but now trading at 10440.
8. Two weeks before I said markets are long by studying Super Trend.
9. I said there is a possibility of 400 to 500 points up move.
10. It seems that it will happen now.
11. FIIs have sold heavily in both Cash and F&O market.
12. Probably they were jittery due to China President's speech today morning.
13. Heavy shorting will help the market rally due to short covering.
14. This week I expect Volatility to subside and corporate results to dictate the trend next week.
15. Nity now has found a strong bottom at 10000.
16. So Nifty is not likely to fall below 10000.
17. Any intraday dip, we can consider selling 10000PE.
18. I sold 9900, 9800, 9700PE 20 lots each and bought 10000PE 10 lots.
19. I have done lot of ratio spreads in Bank Nifty also.
20. Bought 24500PE in weekly options and sold 5 times 24300PE.
21. Earlier I did the same with 24200PE and 24000PE and closed the positions yesterday.
22. Today we can expect Nifty to trade between 10380 and 10480.