Pre Market Report, March 19, 2019 | Stocks and Commodities

March 19, 2019
Time: 8.15 am

Pre Market Report:

1. Yesterday trade was highly volatile.
2. Bank Nifty was up by 400 points then down 500 points and then up 300 points.
3. At some point Bank Nifty future traded at discount to spot.
4. Nifty also fell nearly 120 points intraday.
5. MOCs have done very well as Rupee keeps appreciating.
6. US markets were higher.
7. Asian markets are mixed.
8. SGX Nifty is up by just 10, 15 points.
9. Once again FIIs have bought for more than Rs 1000 crores in Cash market.
10. I sold Bank Nifty 29000PE weekly option at Rs 155, it closed at Rs 75 on Friday.
11. Yesterday though it was volatile, went up to Rs 113, closed at Rs 37.
12. Now it is 600 points from yesterday's close.
13. Markets need not up up, as long as it is not falling, this will go below Rs 10.
14. Call premiums are much higher, even Bank Nifty 30200CE weekly option trading around Rs 60.
15. 600 points up, it is Rs 60 and 600 points down it is Rs 37. Clearly the fear is on the higher side.
16. Due to intraday fall of 500 points, India VIX shot up.
17. I have also sold 11400PE and 11300PE in weekly Nifty options.
18. Yesterday itself, there was a sign of consolidation.
19. Today our markets may consolidate.
20. Fed event, though a non event this time, may bring some jitters.
21. Auto stocks are not doing well, particularly Maruti after production cut.
22. Mid caps and small caps are also under performing.
23. It was the show by Reliance, HDFC Bank, ICICI Bank and Kotak Bank for the last two days.
24. Even yesterday night both HDFC Bank ADR and ICICI Bank ADR were up.
25. Nifty future may trade between 11460 and 11560.