Pre Market Report, April 11, 2019 | Stocks and Commodities

April 11, 2019
Time: 7.30 am

Pre Market Report:

1. US markets closed moderately higher.
2. But Asian markets are mixed.
3. Fed minutes indicated pause in rate hike for the rest of 2019.
4. SGX Nifty is trading about 25 points higher.
5. Yesterday the selling after 1.30 pm was very severe.
6. There was a basket selling at 1.30 pm.
7. But surprisingly after a long time, both FIIs and DIIs bought in Cash market significantly.
8. Despite Rs 2500 crore HDFC Bank sale, Institutional figures were very good.
9. That is one of the reasons why SGX Nifty is up by 25 points now.
10. Monday there was a big intraday swing.
11. On Tuesday and Wednesday, Nifty made inside bar.
12. So we can hope for reversal as long as Monday's low of 11549 is not breached.
13. Markets are likely to be choppy in the range of 11549-11710, Monday's range.
14. One can turn bullish or bearish when this range is broken.
15. Bank Nifty spot closed around 29800 while Max Pain is around 30000.
16. So on any intraday fall, it will make sense to sell PE at lower strikes.
17. I will not be surprised if there is any powerful short covering in Bank Nifty is the last half an hour.
18. So selling CE below 30200 is not a good idea.
19. Similarly Nifty Max Pain is at 11600.
20. Yesterday I sold 11750CE, 11700CE and 11550PE, 11500PE.
21. Hope everything will go to zero, I may keep entry as the SL as soon as markets open.
22. Nifty future may trade between 11550 and 11650.