Pre Market Report, December 17, 2018 | Stocks and Commodities

December 17, 2018
Time: 8.20 am

Pre Market Report:

1. On Friday Dow fell 500 points.
2. Bears were reading too much into this fall.
3. But here we were oversold just before election.
4. Market is also expecting something good from new RBI Governor.
5. Moreover there was a news report that LIC entered the market on Dec. 11.
6. If that is true, then markets will surely not fall below 10300.
7. Last time LIC enetered the market in 2013 when Nifty hit 5150.
8. After that Nifty has never seen that figure.
9. Well informed people covered their shorts just after election results.
10. On Friday OMCs did well.
11. May be due to IOC interim dividend and buyback offer.
12. Crude, after falling from $86 to $60, stuggling around $60.
13. We have 8 more trading sessions.
14. Premiums may start falling.
15. Markets may consolidate between 10700 and 11000.
16. I have sold Put options aggressively from 10500 to 10000.
17. Since I have buy option at 10600 for strategy before election, I dare to sell lot of put options.
18. That has given good reward.
19. As long as Nifty trades between 10800 and 11000, I will make money in Call options also as I have buy call at 10800.
20. However I have huge amount of 11000CE.
21. The moment 10920 is crossed, I will close all 11000CEs.
22. On Friday FIIs were net buyers in Cash market.
23. Vedanta will be in focus as they are reopening the TN plant.
24. Nifty future may trade in a narrow range between 10800 and 10900.