Pre Market Report, November 6, 2018 | Stocks and Commodities

November 6, 2018
Time: 8.15 am

Pre Market Report:

1. US markets closed mixed with DOW and S&P 500 higher and Nasdaq lower.
2. Apple dragged the Nasdaq lower.
3. Asian markets opened with positive note.
4. But China is stuggling to stay positive.
5. Hong Kong is swinging between plus and minus.
6. SGX Nifty opened around 10630 but now trading lower around 10590.
7. Bank Nifty was relatively better yesterday after good results from Axis Bank and SBI.
8. Cipla came with bad set of numbers and that dragged Pharma sector.
9. FIIs boght for Rs 12 crore in Cash market, at least they stopped selling.
10. DIIs continued to sell in Cash market.
11. Reliance and HDFC Bank did well yesterday.
12. Markets are likely to consolidate with positive bias.
13. Bank Nifty is likely to expire between 25500 and 26000.
14. Any intraday dip, one can consider selling 25400, 25300PE with proper stop loss.
15. Similarly on any intraday bounce, one can consider selling 26100, 26200CE with proper stop loss.
16. Nifty has the highest open interest at 10000PE.
17. YesterdayI went short in 2 lots in Nifty and sold 2 lots of 10500PE, 10 lots of 10200PE and 10 lots of 10000PE.
18. SGX Nifty is trading around 10590.
19. This is about 30, 35 points higher than yesterday's close.
20. India VIX is likely to go down with stability returning.
21. Yesterday the market range was within the day before yesterday's range.
22. Bank Nifty has been making 500 point move everyday for the last two months, now that is contracting.
23. If this continue for another one or two days, VIX will come down.
24. We can expect Nifty to trade between 10520 and 10630 today.
25. Bank Nifty may trade between 25600 to 26000.