Pre Market Report, January 22, 2019 | Stocks and Commodities

January 22, 2019
Time: 8.30 am

Pre Market Report:

1. Yesterday morning SGX Nifty was positive as usual.
2. We opened and markets were sold into immediately, as usual.
3. But within few minutes, markets recovered and Nifty future crossed 11000 intraday.
4. Reliance, Infosys, HDFC Bank and Kotak Bank helped.
5. If you leave these stocks, other stocks have fallen so bad.
6. Midcaps were doing badly since morning, Ashok Leyland hit 52 week low.
7. It has fallen nearly 50% from 52 week high.
8. There are many more stocks like that, Sun TV also falling to 52 week low.
9. Indian markets are distinctly weak in January.
10. FIIs started selling in Cash market again.
11. FIIs have sold for more than Rs 4500 crores this January.
12. As long as Nifty future is not breaking yesterday's low, we can remain bullish.
13. Since we have only 8 more trading sessions, Option premiums may start falling.
14. Yesterday Option premiums shot up, may be due to increased margin.
15. That may be new normal now.
16. Nifty was up by 60 points but Nifty March 10000PE was up by Rs 4.
17. Most Asian markets are down.
18. SGX Nifty is down.
19. Markets are likely to consolidate between 10900 and 11000.
20. Nifty future may trade between 10900 and 11020.
21. Future premium has come down yesterday in both Nifty and Bank Nifty.
22. I am planning the following strategy: +1X11000PE, -2X10500PE, -1X10000PE all in March contracts.
23. Please check my Twitter handle @PRSundar64 for more strategies.