Pre Market Report, March 14, 2019 | Stocks and Commodities

March 14, 2019
Time: 8 am

Pre Market Report:

1. US markets closed higher.
2. Asian markets are mixed.
3. SGX Nifty is slightly higher.
4. FIIs have once again bought for more than 2700 crores in Cash market
5. In the last 3 session alone they have bought for about Rs 10000 crore in Cash market.
6. Reliance, HDFC Bank hit all time high.
7. Rupee is very strong due to huge FII flow.
8. March 1 till yesterday Bank Nifty shot up more than 2000 points.
9. FII inflow is highest in last 5 years in this period.
10. Will rally continue or not, I am not sure.
11. But the downside from here is limited.
12. Yesterday also I suggested selling Nifty 11000PE and Bank Nifty 27000PE.
13. Both are in very good profit now.
14. Avoid selling CE for now.
15. This trend can continue even beyoond 11800.
16. Today is weekly expiry day.
17. Yesterday I sold Nifty 11150PE at Rs 8 and 11200PE at Rs 13.
18. In addition, I bought Nifty 11300CE and sold 2X11350CE. Later when 11350 was crossed decissively, I sold 2X11350PE also. Now I have naked long Nifty 11300 and Short straddle at 11350.
19. PSU Bank also started moving higher. I bought SBIN at 267 last month, looking to book profit above 300.
20. Max pain in Nifty is at 11300, so selling 11250, 11300PE will be a good idea for intraday.
21. Bank Nifty Max pain is at 28700. But huge OI added in 28800, 28700, 28600, 28500PE.
22. When Bank Nifty shoots up 1000 points in 2 days, it is normal that Max Pain will be at lower level.
23. On any dip, I will sell 28700 and below PE.
24. Mid caps under performed yesterday, yesterday's rally was mainly due to HDFC Bank and Reliance.
25. Markets may consolidate for a day or two.
26. Expect some sharp move on either side in late afternoon.
27. Nifty future may trade between 11320 and 11420.
28. Bank Nifty future may trade between 28700 and 29100.