Pre Market Report, March 7, 2019 | Stocks and Commodities

March 7, 2019
Time: 8 am

Pre Market Report:

1. US markets closed lower for third day stratight.
2. But from day before yesterday morning SGX Nifty low to yesterday high, we were up by nearly 300 points.
3. Today also SGX Nifty is almost flat.
4. Asian markets are mixed.
5. FIIs were net buyers for more than Rs 1000 crores.
6. This is the tenth straight buying by FIIs.
7. Surprisingly they started their buying during the Indo Pak border problems.
8. Though FIIs were net buyers of more than Rs 1000 crores in Cash market, DIIs were net sellers to the tune of Rs 800 crores.
9. Yesterday it was Reliance and ITC that brought the index up.
10. Many shares that shot up day before yesterday came under selling pressure yesterday like Axis Bank, Yes Bank, IndusInd Bank, etc.
11. Today is weekly expiry for both Nifty and Bank Nifty.
12. Nifty future has shot up nearly 300 points in last two days.
13. FIIs are buying and DIIs are selling.
14. Global cues muted.
15. So markets may consolidate today, at least in the first half.
16. Option premiums may collapse.
17. We have not been following Global cues for the last few months.
18. So we may not follow them today.
19. Max Pain for Nifty is at 11000 and Max Pain for Bank Nifty is at 27500.
20. Yesterday I sold lot of Put options in Nifty at 10900, 10850 and in Bank Nifty at 27200, 27100, 27000.
21. Have done some Put calendar, diagonal put calendar, iron fly, short straddle, etc.
22. Will make lot of profits if markets are slightly bullish.
23. Reliance, ITC, ICICI Bank looking strong, HDFC Bank did not do well and today it may do well.
24. Note that HDFC Bank ADR is up by about half a percent in US.
25. Nifty future may trade between 11020 and 11140.