Pre Market Report, March 15, 2019 | Stocks and Commodities

March 15, 2019
Time: 8.40 am

Pre Market Report:

1. US markets closed almost flat.
2. But Asian markets are higher.
3. China is cutting VAT and some other taxes.
4. That could ba the reason for positive sentiment across Asia.
5. SGX Nifty is trading around 11400.
6. Yesterday markets consolidated.
7. Consolidation on expiry day is always very good for Option writers.
8. Both Nifty and Bank Nifty closed flat and closed around Max Pain levels.
9. Whatever options I sold yesterday ended up in profit.
10. Sold 11300PE in huge qantities, in fact I did more than 50% of the volume.
11. Made very good profit.
12. FIIs as usual bought for about Rs 1500 crores in Cash market.
13. As I said earlier, markets may consolidate for a while and may resume the uptrend.
14. As I said earlier Nifty may hit all time high before election results.
15. Yesterday Nifty consolidated and closed just one point higher but Nifty future closed 20 points higher.
16. So futures players are still bullish.
17. We have 8 more trading sessions, so Option premiums may start moving lower.
18. Due to advance tax payment, activity would have come down.
19. I also moved lot of money from markets to pay for advance tax.
20. When advance tax figures are declared, we will get a sense of winners for the next quarter.
21. If you can hedge during elections, it is time to buy for long term.
22. Nifty futre may find resistance at 11450.
23. Support may come at 11320.