Pre Market Report, August 8, 2018 | Stocks and Commodities

August 8, 2018
Time: 8.30 am

Pre Market Report:

1. US markets closed higher.
2. Asian markets are mostly higher.
3. China is down but it was up by 3% yesterday.
4. Our markets consolidated yesterday.
5. Today also SGX Nifty is indicating flat opening.
6. Yesterday retail banks did well while corporate banks took a back seat.
7. Both HDFC Bank and Kotak Bank reversed the downtrend.
8. Aggressive Put writing as well as Call writing indicate consolidation for some more time.
9. LIC Housing shot up from 465 to 565 in the last few weeks.
10. That is how mid cap stocks move on either side.
11. BPCL, Lupin are coming out with results.
12. Crude is hovering around 75.
13. SBI will be in focus after good results from BoB and bad results from PNB.
14. M&M came with good results, still fell.
15. I sold Put options in M&M, Bajaj Auto, Hero, Bajaj Finance, Bajaj Finserv and prepared to take delivery if they fall below my strike price.
16. If there is no significant move in the first half an hour, we can expect consolidation to continue.
17. Bank Nifty weekly expiry is expected between 28000 and 27500.
18. If there is a breakout, we can expect Bank Nifty to expire around 28200.
19. Let us see whether we breakout today or not.
20. Nifty future is likely to trade between 11380 and 11480.
21. I bought Nifty future when it came closer to 11380, keeping 11360 as stop loss.