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

December 26, 2018
Time: 8.15 am

Pre Market Report:

1. Dow fell more than 600 points and S&P 500 just touched the Bear market.
2. Yesterday, Japan, the only big market open, fell 5%.
3. But today things are not that bad.
4. Many markets are closed today also due to Boxing day.
5. US futures are still lower.
6. SGX Nifty is trading 60, 70 points lower.
7. But not all are bad.
8. ICICI ADR was up by 0.5%.
9. Crude oil has fallen 7%.
10. That is actually good for India.
11. Rupee is stabilisng around 70.
12. Nifty 10700CE added so much of OI, now it will be very difficult for Nifty to expire above 10700.
13. If DIIs buy in big quantities and short covering sets in, then only Nifty can expire above 10700.
14. But that probability looks very low now.
15. I am planning to sell 10800CE at the opening in Nifty.
16. I am also planning to sell Bank Nifty 27000CE in the morning.
17. If things go wrong, we will get intraday limit tomorrow to fire fight.
18. If markets open with deep cut, then wait for some recovery to sell options.
19. If markets open 30, 40 points lower, then sell calls immediately.
20. Anyway selling Bank Nifty 27000CE, Nifty 10800CE are safe to sell.
21. Nifty future should take support at 10580.