Pre Market Report, October 15, 2018 | Stocks and Commodities

October 15, 2018
Time: 8.40 am

Pre Market Report:

1. US markets closed higher on Friday.
2. But Trump's threat again regarding China trade deal bringing the Asian markets down.
3. But Asian markets are not reacting violently.
4. SGX Nifty is down just by 20 points.
5. A Saudi Journalist missing is adding fuel to the fire.
6. US threatened severe action if Saudi Arabia has killed the journalist.
7. Yesterday Saudi markets fell 7% at one point of time, then recovered to close 3.5% down.
8. Crude is moving higher due to this tension.
9. That is not good for India.
10. US and European futures are down moderately.
11. For the last two days Bank Nifty has been out performing.
12. Last Friday there was good buying in both HDFC Bank and Kotak Bank, two key index heavy weights.
13. Today IndusInd Bank results are due.
14. That will decide the direction for Bank Nifty.
15. Next 8 trading sessions are going to be key for Indian markets.
16. IndusInd Bank, India Bull Housing will come out with results today.
17. Hero Motocorp, Infosys, Reliance will declare results in the next two days.
18. HDFC Bank results are due on Saturday.
19. Since markets are in over sold conditions, any short covering backed by good results, will be sharp.
20. We have seen that in auto stocks on Friday as Crude fell.
21. PM meeting Oil Companies chiefs is another news to note.
22. We need to see how these OMC stocks will react.
23. Speculation will start in Reliance as the results are nearing.
24. I have sold Bank Nifty 26000CE in weekly and 27000CE in monthly.
25. I also sold 10700CE in Nifty.
26. I will be adjusting positions on a day to day basis.
27. Conservative traders can consider selling Bank Nifty 23000PE in November.
28. I am planning to sell both 23000PE and 28000CE in November after the IndusInd Bank results.
29. For the last 3 days, it was one day up and one day down.
30. Hope markets do not fall drastically today.
31. Nifty future may trade between 10420 and 10520. I am just giving only 100 point range while ATR is 200 points.