Pre Maekrt Report, November 21, 2018 | Stocks and Commodities

November 21, 2018
Time: 8.25 am

Pre Market Report:

1. US markets fell. Dow was down by 1000 points from day before yesterday's high to yesterday's low.
2. Bit coin fell, Crude fell, FAANG stocks fell.
3. It is Red all over the place.
4. Asian markets opend down following US.
5. But many markets have recovered and some evn came to positive territory.
6. SGX Nifty is trading all over the places, between 10600 and 10680.
7. Markets were looking very bullish and that is puctured in just one day.
8. Yesterday both FIIs and DIIs were net sellers.
9. So the markets are bound to be sluggish.
10. Hue OI added in 10800CE suggests that now 10800 will be the resistance.
11. Earlier I was bullish and expecting 11000 in Nifty.
12. But now that looks very difficult.
13. Markets may consolidate between 10400 and 10800 for few more weeks.
14. Any intraday bouce, I am planning to sell 10850, 10900 Calls, yesterday I have done that.
15. Stocks like L&T, HUL are in good shape, ITC started recovering from low levels.
16. IndusINd Bank supported Bank Nifty.
17. I think HDFC Bank may come under pressure as FII selling in Cash market.
18. Yesterday I closed most of the positions for 2 reasons (i) Nifty fell more than 100 point after good run up, (ii) India VIX was down and therefore Put prmiums fell despite fall in Nifty and Bank Nifty.
19. If the Volatility increases, I may initiate new trade.
20. Planning to short Nifty if there is any intraday bounce and sell 10650 and 10500PE.
21. Nifty future may trade between10600 and 10700.