Pre Market Report, November 20, 2018 | Stocks and Commodities

November 20, 2018
Time: 8.45 am

Pre Market Report:

1. US markets fell significantly, Nasdaq 3%, Dow 2%.
2. Apple dragged all the indices.
3. I joked yesterday, "The way Apple price is falling, company may consider renaming is as Orange"
4. Apple has fallen 25% from the recent high.
5. But Asian markets are not reacting as bad as US.
6. Chip related stocks are doing badly in Asia.
7. Crude prices are struggling at lower levels and that is good for India.
8. WE are out performing the world markets.
9. SGX Nifty is down just by 25 points at this time.
10. Markets wait for next big trigger, news related to US China Trade war.
11. Yesterday India VIX was high due to RBI Borad meet.
12. Yesterday there was no unpleasant news from RBI side.
13. But this Global melt down may support the VIX today.
14. Nifty traded between 10500 and 10600 for many days.
15. But traded between 10600 and 10700 only for 2 to 3 days.
16. Now Nifty may consolidate between 10700 and 10800 for few more days.
17. Option premiums may come down due to time decay.
18. Including today's session, there are only 7 trading sessions.
19. Even if Nifty falls 100 point a day, still Nifty will expire above 10000.
20. But Nifty 10000PE is trading around Rs 7.
21. Any intraday dip, it may trade above Rs 8.
22. A safe bet in this volatile market.
23. My Nifty 10800 Short Straddle is doing well.
24. Since FIIs are buying in CAsh market everyday, HDFC Twins are doing very well.
25. Bank Nifty under performed yesterday due to RBI meet.
26. Today we have to see how Banking stocks perform.
27. Any dip is a buying opportunity in ICICI Bank. I sold 350PE yesterday at Rs 2.85.
28. Reliance is leading the markets.
29. ITC is also showing some movements.
30. Nifty future may trade between 10700 and 10800.