Pre Market Report, November 2, 2018 | Stocks and Commodities

November 2, 2018
Time: 8.50 am

Pre Market Report,:

1. US markets were higher yesterday for 3 consecutive days.
2. But after the market hours Apple fell 7% due to its warning.
3. But Asian markets are not reacting to Apple news.
4. yesterday Trumptweeted by saying he spoke to Chinese President and optimistic about trade war negotiation.
5. That lifted the sentiment.
6. Brent crude fell below US$73.
7. There was a news report that says US will allow India to import crude from Iran.
8. That was the main reason for the drastic fall in Crude prices.
9. Fall in Crude prices from US$86 plus to US$73 minus is a big positive factor for India.
10. Yesterday ourmarkets consolidated but Bank Nifty out performed.
11. Now markets decssively turned around.
12. Now every dip is a buying opportunity.
13. SGX Nifty hit a high of 10533 yesterday night.
14. Now it is trading around 10490.
15. This is a decent rise of 500 points from the recent low.
16. Everyday one or the other stock shoots up 8 to 10%.
17. Yesterday it was Yes Bank.
18. Today Axis Bank, Hindalco will declare results.
19. There is a lot action in Axis Bank, ahead of results.
20. ICICI Bank is likely to hit another 52 week high.
21. ITC, Reliance, Maruti, Kotak Bank, HDFC Bank all index heavy weights are not moving at all.
22. If they start moving, then Nifty can march higher in the next few weeks.
23. Auto and OMC stocks will be in focus due to fall in Crude prices.
24. I am planning to sell 9900PE and below strikes.
25. I did a Put calendar at 10800. Sold November 10800PE and bought December 10800PE.
26. Nifty future may trade between 10420 and 10520.
27. India VIX is likely to move further lower.