Pre Market Report, June 27, 2018 | Stocks and Commodities

June 27, 2018
Time: 8.30 am

Pre Market Report:

1. US markets have stabilised and closed slightly positive.
2. But Asian markets are mixed.
3. Some markets like Hong Kong are volatile within a range.
4. SGX Nifty is trading about 20 points lower, around 10750.
5. Our markets were volatile yesterday.
6. Last half an hour, there was selling.
7. Crude prices moved higher due to Iran sanctions.
8. That is not good for our markets.
9. Oil marketing companies and Auto stocks may feel the pressure.
10. Europe and US futures are higher.
11. That may support our markets in the afternoon.
12. Highest open interest among Puts is at 10700.
13. So markets may not fall below 10680 considering Rs 20 premium in 10700PE.
14. Highest open interest among Calls is at 11000.
15. But I do not think Nifty will expire above 10880.
16. Yesterday I sold 10850CE and 10900CE.
17. Today if markets are weak, planning to sell 10600PE.
18. Bank Nifty I have lot of positions.
19. Bank Nifty 26500PE and 27000CE have highest open interest among Puts and Calls.
20. Reliance has been under pressure and has fallen about Rs 60 from the peak.
21. That is one of the reasons for under performance of Nifty.
22. So we need to watch HDFC bank and Reliance for market direction.
23. Nifty may trade within yesterday's range of 10700 - 10820.