Pre Market Report, June 28, 2018 | Stocks and Commodities

June 28, 2018
Time: 8.15 am

Pre Market Report:

1. US markets closed lower despite a good news.
2. That shows the weakness in Global markets.
3. India, in fact, out performing the world markets.
4. Crude price rise made our markets jittery.
5. RBI report on NPA also contributed to PSU Banks fall.
6. HDFC Bank shot up by Rs 20, preventing collapse in Bank Nifty and Nifty.
7. Instead, if HDFC Bank had fallen by Rs 10, Bank Nifty would have fallen by more than 500 points and Nifty more than 200 points.
8. Today is the expiry day.
9. Both Bank Nifty and Nifty may be managed by Option sellers.
10. We can expect some volatile trade between 10600 and 10700 in Nifty.
11. Yesterday I closed most of my positions and shifted to safe distances.
12. Now I have sold Bank Nifty 26000PE, 25900PE, 25800PE, 26800CE, 26900CE, 27000CE.
13. I have sold Nifty 10600PE, 10550PE, 10500PE, 10750CE, 10800CE, 10850CE.
14. The only worry is 10600PE, other positions are safe.
15. Yesterday all Indian ADRs were down.
16. SGX Nifty is down by about 20 points.
17. Expiry day trade will be unpredictable and volatile.
18. We can expect Nifty to expire anywhere between 10580 and 10720.
19. Expect some sharp move after 3 pm.
20. Be careful on long side.