Pre Market Report, September 19, 2018 | Stocks and Commodities

September 19, 2018
Time: 8.45 am

Pre Market Report:

1. US markets closed higher.
2. China announced tariff on US$60 billions worth of goods.
3. Asian markets are mostly higher.
4. SGX Nifty hit a low of 11300 today morning, now trading around 11340.
5. Last two days, we fell not because of Global cues, because of local cues.
6. Yesterday PSU Bank index fell more than 5% and Bank of Baroda fell more than 17%.
7. Rupee also traded at the historic low.
8. Crude also increased slightly and all these created a little bit of panic.
9. Yesterday most markets were in Green but we fell very badly.
10. Nifty has not broken the recent low but Bank Nifty has broken.
11. Markets were in good shape but fell in the last one hour 30 minutes.
12. FIIs have sold heavily in Cash market.
13. But in F&O, they were buyers.
14. Probably shorts are being covered at the lower levels.
15. I am planning to sell Call options if there is any intraday bounce.
16. If markets stabilise, there may be some short covering rally after 3 pm.
17. This expiry will be an interesting one as Bank Nifty made two way movements in the last four trading sessions.
18. If 11250 is broken in Nifty, then Nifty might fall another 100 to 150 points.
19. People will not like to carry positions today due to holiday tomorrow.
20. So there will be a sharp move towards the end.
21. Keep the hedges in place and play safe.
22. Go for risk defined strategies.
23. I sold 11500 and 11600CE yesterday.
24. I am planning to buy 11200PE and sell 2X11100PE just to capitalise if there is any panic down move.
25. If that move is not happening, then there is nothing to lose.
26. Nifty future should take support at 11280, failing which the fall will be bad.
27. Resistance may come around 11400. If there is any short covering in the last half an hour, even this resistance may be breached.
28. For the last few sessions, my levels have been going wrong.
29. Any move in Rupee beyond 73 may create some knee jerk reaction.
30. Surprisingly India VIX has fallen, if that continues to fall, it is good.