Pre Market Report, December 10, 2018 | Stocks and Commodities

December 10, 2018
Time: 8.15 am

Pre Market Report:

1. Our markets shot up due to short covering on Friday.
2. Kotak Bank shot up 10% after the news that Warren Buffet taking stake, helped Bank Nifty and Nifty to move higher.
3. After the markets close on Friday, Exit poll results came and none of the states seems to be in favour BJP.
4. Huawei CFO arrest, China's weak export growth, Japan's contracting GDP, Exit poll results, nothing is helping our markets.
5. The best trade today will be no trade.
6. If you still want, back spread is the only strategy that will work in this market.
7. In fact few days before, I sold 11000PE, bought 2X10800PE, sold 10500PE.
8. I will make money as long as Nifty stays below 10800 or above 11000.
9. Both bad global and locl cues is being factored in the markets.
10. So it is not a good idea to short the market at this stage.
11. Tomorrow, if BJP wins MP and get reasonable seats in Rajastan and Chattisgarh, markets may shoot up due to short covering.
12. SGX Nifty trading around 10580 which is below day before yesterday's low.
13. Crude prices are higher despite evry stock market is down.
14. DOW lost nearly 1500 points in the last fore trading sessions and DOW futures down by 200 points right now.
15. Be ready for roller coaster ride for two days.
16. We need to worry more about global cues than local cues.
17. 2018 is a year which is bad for every asset class.
18. UK markets have lost what they gained in the last 20 years.
19. Most markets were highly volatile but did not go anywhere.
20. No point in talking about support and resistance as there is no plan to take any positions.