Pre Market Report, September 3, 2018 | Stocks and Commodities

September 3, 2018
Time: 8.40 am

Pre Market Report:

1. Asian markets are mostly negative.
2. On Friday SGX Nifty closed around 11775.
3. But now trading around 11750.
4. Our GDP data came at 8.2% much better than expectation.
5. That could be one reason for better rates in SGX Nifty rates.
6. Another big news is the Additional Surveillance Margin announcement by SEBI.
7. Margin money will increase by 40 to 50%.
8. Earlier they came out with ASM but that was not added to Exposure margin, so brokers paid that on behalf of us.
9. But now this ASM is added to Exposure margin, so it will be compulsory for us to pay.
10. The business of Option selling facing lot of problems now.
11.  Coming back to trades, Nifty and Bank Nifty both futures are trading at a very high premium.
12. Bank Nifty future is trading about 180 points premium, which I have not seen for a very long time.
13. So I am happily selling far out of money call options.
14. Maruti came with poor set of sales numbers, which may come under pressure.
15. Pharma stocks are doing extremely well.
16. Rupee is also helping Pharma and IT stocks.
17. US markets are closed today.
18. So there may not be any big moves in markets today.
19. So we can expect some consolidation in the markets now.
20. Due to the economic data, there may be a rate hike in October by RBI.
21. So one has to be careful about Banking stocks.
22. Ashok Leyland has declared very good sales data.
23. Any intraday fall, I am planning to sell 120PE.
24. Nifty future will face stiff resistance at 11800.
25. Support may come at 11680.