Pre Market Report, August 17, 2018 | Stocks and Commodities

August 17, 2018
Time: 8.30 am

Pre Market Report:

1. China is planning to negotiate with US on trade tariff.
2. Asian markets recovered yesterday morning after this news.
3. Asian markets mostly closed higher yesterday.
4. Today also Asian markets are extending the gains.
5. Here Bank Nifty did badly due to Kotak Bank and HDFC bank.
6. Now everyone has forgotten the Turkey problem.
7. But SGX Nifty is not showing any enthusiasm.
8. IT and Pharma stocks are doing well.
9. That may be due to Rupee depreciation.
10. Nifty is likely to continue to trade between 11300 and 11500.
11. After today, there are only 8 more trading sessions.
12. So option premiums will start moving lower.
13. This series from the beginning has been in consolidation mode.
14. Highest open interest among Puts is at 11000 and among Calls is at 11500.
15. So 11500 may be a big resistance. If that is crossed decisively, then the next target will be 11700.
16. We can expect some sharp move towards the end of the day.
17. Nifty future may trade between 11380 and 11480.
18. Kotak Bank is a good buy at this level.
19. I am looking to buy both Kotak Bank and HDFC Bank at these levels.
20. I sold Infosys Put options aggressively.