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

July 10, 2018
Time: 8.45 am

Pre Market Report:

1. Last week world markets were under pressure due to US China trade war fear.
2. But we did well last week.
3. Yesterday Asian markets did well as there was no escalation of trade war during weekend.
4. We have also broken out of the range 10600-10850.
5. This breakout coincides with the results season.
6. Today IndusInd Bank will kick start the results season.
7. So Bank Nifty will be in focus today.
8. IndusInd Bank has corrected a bit is the last few days.
9. IndusInd Bank can swing 4% either side. I have Short Straddle at 1960.
10. If IV collapses after the results I may make some money.
11. In addition to short straddle, I am also long one lot and sold 2000CE and 2100CE.
12. I am long at 1935.
13. TCS will declare results after the market hours.
14. So its impact will be known only tomorrow.
15. I have sold TCS 1750PE and 2100CE.
16. Yesterday long in Titan, sold 820PE, 820CE, 900CE.
17. Yes Bank and Axis Bank did well yesterday.
18. I have long positions in both.
19. Now Nifty has broken out, we can expect Nifty to cross 11,000 if corporate results are good.
20. Now the Nifty range is 10600-11000.
21. Nifty as well as Bank Nifty has turned bullish last Thursday itself.
22. Expect Nifty to scale to 10980 level by the end of this week.
23. Today Nifty may trade between 10860 and 10960.