Pre Market Report, November 26, 2018 | Stocks and Commodities

November 26, 2018
Time: 8.20 am

Pre Market Report:

1. On Friday I thought Nifty would take support at 10600.
2. But it fell below 10520 due to severe selling in the last one hour.
3. That could be due to Bank Nifty expiry and w day weekend.
4. Huge FII selling on Wednesday also contributed to the selling.
5. But today morning things are looking good.
6. Asian markets are mostly higher.
7. SGX Nifty is trading about 50 to 60 points higher.
8. Crude fell below $60, fall from $86 to below $60 within few weeks.
9. That is good for OMCs and Auto stocks.
10. But Yes Bank may spoil the party for Bank Nifty.
11. Nifty has corrected about 300 points in 3 days.
12. FIIs turned net buyers in Cash market.
13. More open interest added in 10700 and 10800CEs.
14. I believe Nifty will expire between 10500 and 10800.
15. On every fall, we can sell 10400PE and on every rise we can sell 10800CE, keeping 100 points buffer on the downside.
16. Reliance has fallen 5% in 2 days.
17. Since it an index heavy weight, dragged the Nifty a lot.
18. Be ware of Gamma risk in the last week of expiry.
19. Bank Nifty is likely to expire between 25500 and 26500.
20. Nifty future in likely to trade between 10520 and 10620.