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

February 22, 2019
Time: 8.30 am

Pre Market Report:

1. US markets closed lower after a bad economic data.
2. Bt we have to remember that US markets were moving higher for more than a week.
3. Asian markets are mostly negative following US markets.
4. SGX Nifty is also down by 25, 30 points.
5. Yesterday the follow up buying came in our markets, Nifty shot up 200 points in two days.
6. Both FIIs and DIIs were net buyers but the buy figures are not impressive.
7. We started this series around 10850, from there went to 11150, then came down to 10600 and now back to 10800.
8. Remember November 2018, December 2018, January 2019 expiry all were between 10780 and 10860.
9. We have one more week, we may expire between the same numbers again this series also.
10. Reliance broke outyesterday and that supported the markets.
11. No contrribution coming from ITC which has been trading in a tight range for more than a year.
12. In Banking ICICI Bank did very well.
13. Today Kotak Bank stake sale is there, so we need to see how Kotak Bank and Bank Nifty reacts to this news.
14. Yesterday there was a menigful buying in Housing Finance companies.
15. India Bull Housing shot up 12% in two days.
16. As I said earlier Nifty is likely to trade between 10600 and 10900 for the rest of the series.
17. On any dip, we can sell 10500PE and on any rise we can sell 11000CE.
18. Bank Nifty I am planning to sell 27500CE on any rise.
19. We may consolidate after 2 days of rally.
20. Nifty future may trade between 10750 and 10850.