Pre Market Report, July 20, 2018 | Stocks and Commodities

July 20, 2018
Time: 8.45 am

Pre Market Report:

1. US markets were down.
2. But right now US Futures are higher.
3. Asian markets are mixed.
4. Yuan hitting one year low is a concern.
5. Traders still remember 2015 crash due to Yuan devaluation.
6. But surprisingly Trump spoke against rising rates in US.
7. That may be a good news for emerging currencies.
8. SGX Nifty is swinging between Green and Red.
9. Yesterday Bank Nifty under performed as Kotak bank fell 4%.
10. But Yes Bank keep moving higher.
11. At the beginning of this series, Yes Bank was around 330, now trading above 390, more than 20% in less than 3 weeks.
12. HDFC bank saved the Bank Nifty from collapsing.
13. Today markets will be nervous as the debate goes on in Parliament.
14. Last one hour of trading will be interesting.
15. Though BJP is sure to win the motion, traders may not like to carry positions through the week end.
16. Nifty is likely to move sharply on either direction in the last hour.
17. As I stated earlier, Nifty is likely trade between 10920 and 11120.
18. If the range is broken, then Gamma effect will take the market violently down or up.
19. India VIX is likely to shoot up.
20. It will be a good idea to consider Nifty 11000 straddle in September.
21. Or Short strangle Bank Nifty August series at 24600PE and 28500CE.
22. Today Nifty future may trade between 10920 and 11020.