Pre Market Report, June 11, 2018 | Stocks and Commodities

June 11, 2018
Time: 8.45 am

Pre Market Report:

1. G-7 meeting was not as bad as expected.
2. There was some quarrel between US and Canada.
3. Now the focus in on US-North Korea Summit in Singapore.
4. Once that is over, the focus will shift to US Fed meeting.
5. Both are likely to be non event.
6. Both are factored in already in the markets.
7. Crude prices are stable.
8. PSU Banks will be in focus, particularly PNB.
9. ICICI will also be in focus due to SEC news.
10. SGX Nifty is higher by 30 to 40 points.
11. But both ICICI Bank and HDFC Bank ADRs were down.
12. We may see some action in Pharma stocks.
13. Overall markets are trying to breakout again.
14. The more it tries to test the resistance zone, more the chances of breakout.
15. That is why this time I did not sell call options.
16. I sold put options.
17. I also did ratio spread in put options.
18. Nifty looks more bullish than Bank Nifty.
19. I plan to buy Nifty 10500PE and sell 2 times 10400PE and 2 times 10200PE.
20. Low risk low reward strategy.
21. Will react if Nifty falls below 10580.
22. Today Nifty future may trade between 10720 and 10820.