Pre Market Report, July 19, 2018 | Stocks and Commodities

July 19, 2018
Time: 8.50 am

Pre Market Report:

1. Yesterday markets were holding at the resistance level.
2. Everyone was expecting some kind of breakout.
3. Suddenly the news came that Speaker allowed the No Confidence motion to take place on Friday.
4. Then the volatility shot up.
5. Bank Nifty fell 300 points, then recovered 200 points again fell.
6. Many stocks corrected significantly giving opportunity for fresh people to enter.
7. HDFC Bank has shot up by 10% in this series alone came under selling pressure.
8. So the Bank Nifty was volatile.
9. Today Kotak Bank results will be the key.
10. But it has run up already so any disappointment in results, it will come under selling pressure.
11. Going by the OI data, Bank Nifty is likely to trade between 26700 and 27200.
12. Bank Nifty 27200 has open interest of more than 12 lakh shares.
13. I might consider selling 26500PE and 27200CE in the morning.
14. Global cues are good.
15. Corporate results are good in US as well as India.
16. Kotak and Bajaj Twins will declare results today.
17. There is a shocking report that says if we take out the top 10 stocks, markets have lost 17 Lakh Crore.
18. Luckily we are in Nifty and Bank Nifty, we did not feel the pain.
19. That is the advantage of staying in Indices.
20. But this kind of worst situations are the best situations to invest for long term.
21. I sold REC 90PE, PFC 65PE, Ashok Leyland 100PE, if prices come down I am prepared to take delivery.
22. Nifty future may trade within yesterday's range until 3 pm.
23. There may be some sharp move after 3 pm due to Bank Nifty expiry.