Pre Market Report, August 31, 2018 | Stocks and Commodities

August 31, 2018
Time: 8.50 am

Pre Market Report:

1. We have come to the end of August series.
2. It was a fantastic series.
3. Nifty shot up more than 500 points.
4. Nifty shot up more than 1000 points in July and August series.
5. Many front line stocks shot up more than 20, 30%.
6. Reliance from 950 to 1320, ITC from 260 to 320, ICICI from 260 to 345.
7. Remember all these are index heavy weights.
8. Last two days of August series came for profit booking.
9. We are beginning the September series with caution.
10. September series, Nifty may trade between 11000 and 11800.
11. Nifty 11800CE and 12000CE have almost equal OI.
12. Those who are trading Bank Nifty, may sell 26500PE and 29500CE.
13. Those who are trading in Nifty, may sell 11000PE and 12000CE.
14. I am not expecting September series to be very bullish as Nifty has already shot up more than 1000 points in the last two months.
15. Any intraday bounce, I will look to sell Dec. Nifty 12500CE.
16. Perfect time to sell long term options is when Nifty shoots up more than 1000 points in a short period.
17. The US China trade problem is surfacing again.
18. So US and Asian markets are down.
19. But some Asian markets are recovering from the lows.
20. We always preempt the world markets.
21. Bank Nifty corrected more than 400 points in two trading sessions. (I am talking about from Friday high to Thursday low)
22. Nifty future may trade between 11680 and 11780.