Pre Market Report, January 10, 2019 | Stocks and Commodities

January 10, 2019
Time: 8.20 am

Pre Market Report:

1. US markets closed higher for fourth straight day.
2. US-China concluded 3 days of talk.
3. But no firm positive news has come.
4. So Asian markets are down.
5. US and European futures are also down.
6. But SGX Nifty is trading around 10900, about 30 points higher.
7. Yesterday night SGX Nifty closed at 10956.
8. Both FIIs and DIIs were net buyers in CAsh market yesterday.
9. IndusInd Bank results set the tone for results season.
10. IndusInd Bank closed higher after the results.
11. Though results were not good, all negatives have been factored in already.
12. I bought IndusInd Bank at 1575 and sold 1600CE at Rs 35 and 1700CE at Rs 8.50.
13. Today Bank Nifty may be volatile due to weekly expiry.
14. 27900CE has highest open interest and that will act as huge resistance.
15. Due to 300 points intraday fall suddenly yesterday, highest OI moved to 27000PE.
16. Max pain is at 27500.
17. So I expect Bank Nifty to close between 27500 and 27900.
18. If moves closer to the higher end I may sell 28000CE and moves towards lower end I may sell 27300PE or 27400PE.
19. ITC showing momentum after a long time.
20. I am planning to sell 280PE and 270PE.Nifty future may trade between 10820 and 10940.
21. Bank Nifty future may trade between 27500 and 27900.