Pre Market Report, December 19, 2018 | Stocks and Commodities

December 19, 2018
Time: 8 am

Pre Market Report:

1. What a fantastic month December?
2. Nifty fell from 10900 to 10300 and then shot up from 10300 to 10900.
3. It looks like Nifty will kiss 11000.
4. SGX Nifty future has crossed 11000 yesterday night.
5. All people against Modi said Nifty will fall below 10000.
6. BJP has lost all states, yet Nifty is trying to cross 11000.
7. I stated very clearly, it is not winning or losing the state elections.
8. You get 49% of MLAs you lose the state, you get 51% of the MLAs you gain then you win the state, but in both cases you get same number of MPs. That makes no difference at centre.
9. Crude oil is falling, Rupee appreciating, Dollar falling, everything is falling in place for India.
10. RBI announcing Rs 50000 Crore OMO purchase is icing on the cake.
11. Yesterday Nifty was sluggish until the news broke out that there was a bulk deal in ICICI Bank.
12. Then ICICI Bank, Kotak Bank, HDFC Bank all moved higher, Bank Nifty crossed swing high.
13. Reliance also supported the market.
14. Asian markets are mixed.
15. Markets are nervous ahead of Fed policy.
16. But we are in a different trajectory.
17. Yesterday there was shorting in index futures.
18. Short covering may fuel the rally further.
19. I sold 10800, 10700, 10600, 10500PEs, naked, without any hedge for some clients.
20. Bank Nifty weekly options, sold 26500PE, later sold 26800PE, both naked, without any hedge.
21. Nifty future may trade between 10920 and 11020.