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

March 22, 2019
Time: 8.10 am

Pre Market Report:

1. Wishing all my readers a Happy Holi.
2. We are happy to reopen Registration for @OptionsConclave.
3. For more details, you may visit the Twitter handle of @OptionsConclave.
4. For any assistance, you may contact Mr Sharath at 9600076997.
5. Coming back to markets, Good news or bad news, they come in bunches.
6. Fed decide not to increase rate in 2019, earlier they indicated 3 hikes in 2019.
7. Now they say they may go for only one hike 2020, instead of 3 indicated earlier.
8. That is a very good news for enmerging markets.
9. Emerging market currencies are likely to appreciate.
10. US markets were higher yesterday and Asian markets are mostly higher.
11. SGX Nifty hit a high of 11646 after the Fed news.
12. Now it is trading around 11600.
13. FIIs keep pumping money in Cash market.
14. Wednesday also they have bought for more than Rs 1000 crore.
15. I do not remember FII buying for more than Rs 1000 crore everyday like this in the past many years.
16. FIIs have bought for Rs 25,000 crore in March alone.
17. Bank Nifty is the star of this rally.
18. From 26800 to almost 30000 in 2 to 3 weeks.
19. Wednesday Bank Nifty future hit a high of 29980 and closed at 29960.
20. Today Bank Nifty future may cross 30000.
21. Just few days to expiry both Nifty future and Bank Nifty trading at significant premium.
22. I am planning the strategy in Nifty: +1X11600CE, -2X11700CE.
23. Will make some money if Nifty expires between 11600 and 11700.
24. Wednesday I already did the strategy in Bank Nifty: +1X30000CE, -2X30300CE.
25. Since markets have run up so fast, there may be some profit booking.
26. Everyone is waiting to enter in this correction.
27. That correction may not come as long as these people are waiting.
28. Autos are under performing as production cut news is very bad for them.
29. Markets have consolidated last Wednesday.
30. It may consolidate for a day or two more.
31. I expect this expiry to be above 11600, may be between 11600 and 11700.
32. Today Nifty future may trade between 11560 and 11640.