Pre Market Report, April 1, 2019 | Stocks and Commodities

April 1, 2019
Time: 8.15 am

Pre Market Report:

1. US markets closed in Green on Friday.
2. During the weekend, China Manufacturing PMI data came and it was better than expected.
3. After reaching the lowest point last month, it seems that it is stabilising.
4. This news along with progress in US-China Trade agreement lifted sentiment in Asia.
5. US and European future are also higher.
6. SGX Nifty opened about 60 points higher at open, now trading about 40 points higher.
7. Rupee has been doing well.
8. Crude is also seems to be stabilising between US$60 and US$70.
9. Options traders are very bullish, even when Bank Nifty fell 100 points on Friday, Call option premiums did not come down.
10. Even 32000CE is trading around Rs 150.
11. Even Nifty 12000CE is trading around Rs 55.
12. This week RBI policy will be the key event to watch.
13. There is an expectation of rate cut to create feel good factor ahead of elections.
14. If that happens, Bank Nifty may move higher further.
15. I closed almost all my positions on last Thursday due to year end.
16. I may have to start trading from today.
17. I am planning to buy Nifty 11900CE and sell 12000, 12100, 1200CEs.
18. Bank Nifty, planning to buy 31200CE and sell 31200 weekly and 3X32000CE in monthly.
19. These strategies will give some money if markets are bullish but not too bullish.
20. WHen Global cues are so good, FIIs did not buy on Friday in Cash market for the first time in March.
21. However DIIs have bought, reversing their stand for the last one month.
22. There are some changes to bank lending rules, it looks as if it is good for PSU Banks.
23. Though Bank Nifty is more than 2000 points higher than last year high, SBI is still about 8% lower than last year high.
24. If PSU Banks starts moving higher Bank Nifty may cross 31000.
25. Nifty future may trade between 11650 and 11760. 
26. Nifty 11760 spot is the all time high.