September 12, 2018
Time: 8.30 am
Pre Market Report:
Time: 8.30 am
Pre Market Report:
- US markets were higher due to crude prices and apple.
- But Asian markets are mostly down.
- SGX Nifty is almost flat.
- Yesterday as well as day before yesterday my prediction went wrong badly.
- Rupee depreciation is creating sort of panic in markets.
- Nifty has fallen 300 points in two days.
- Bull market corrections are very sharp and swift.
- It took two months two gain 1000 point in Nifty but took only two days to lose one third of it.
- There is all round selling in Cash, index futures, stock futures.
- Everything looks bearish.
- Tomorrow is a local holiday.
- Traders may not like to carry positions home due to local holiday tomorrow as we can not react to global cues tomorrow.
- Hence though markets may be bearish, there may be some short covering towards the end of the day.
- So one has to be cautious in selling or buying options for intraday.
- The risk reward may not be in your favour for even shorting at this level.
- Yesterday around 2.45, I shorted Nifty at 11390 and in the next 45 minutes fell another 60 points.
- I shorted for hedging purpose, not for intraday.
- So time to be cautious, I am planning to sell Call options if markets show any intraday bounce.
- On the put side, one may sell put option with protection.
- Iron Condore or Ratio Spread will be a good idea.
- One can buy 11200PE and sell 2.5X or 3X 11000PE.
- Nifty is likely to find major support at 11000, if Nifty expire between 11200 and 11000, there will be very good profit.
- Nifty should take support at 11280.
- No point in talking about resistance in this bearish market.
Comments
What happened to ur auro pharma options
ReplyDeleteSir, are the nifty levels, levels for cash or futures. If futures, then I think they are September futures. Can you please clarify/confirm.
ReplyDeleteGood to see all market news in one blog.Share Market Company
ReplyDeleteTHANKS profusely..overall info at one place.
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