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

November 19, 2018
Time: 8.25 am

Pre Market Report:

1. Asian markets opened with positive note but lost some gains.
2. US Vice President attacked China, so the Trade War bad news is still there.
3. US Fed Vice Chaiman cautioned about Global growth slowdown, so Dollar Index fell.
4. That is good for global currencies.
5. Crude is still stuggling at lower levels.
6. SGX Nifty hit a high of 10789 on Friday.
7. Now it is tarding around 10750.
8. That is a decent gap up.
9. On Friday, though Nifty was up, mid caps and small caps came under selling pressure.
10. Nifty has gone up by about 700 points.
11. Now it is likely to trade around 200DMA.
12. Markets may consolidate for a day or two around 10750 and then rally may resume.
13. RBI Board meet, US China Trade War, State Elections are the near term uncertainties.
14. But when everyting is claer, markets will be at peak.
15. Markets give good opportunity only when there are uncertainities.
16. Bank Nifty is looking more bullish than Nifty.
17. I have sold 10800CE and PE, expecting this upmove.
18. If Nifty future falls below 10736, then I will "buy 10500PE and sell 2X10300PE".
19. If Bank Nifty future crosses 26500, then planning to do Short Straddle at 26500.
20. If premiums are not good, then I may do it in December series.
21. On Friday I sold naled 25000PE in Bank Nifty.
22. I am taking a bullish view with a target of 11000 by the end of this expiry.
23. I Nifty future sustains above 10720 upto 1 pm, then I am planning to sell 10600PE, 10500PE naked.
24. Housing Finance companies, PSU Banks, NBFCs will be in focus ahead of RBI Board meet.
25. Reliance will be in focus as it shot up 2.5% on Friday.
26. Since Asian markets are giving up morning gains, European and US futures are almost flat, we need to watch the gap to see it is sustainable or not.
27. Nifty future may trade between 10680 and 10800.