Pre Market Report, April 18, 2019 | Stocks and Commodities

April 18, 2019
Time: 7.15

Pre Market Report:

1. US markets ended mixed after some profit booking.
2. Asian markets are mixed.
3. SGX Nify is up by 15, 20 points.
4. But it went up by 50, 60 points yesterday night.
5. The talk of the town is Saudi Aramco buying 25% stake in Reliance Petrochem business.
6. This news is coming just ahead of Reliance results today.
7. So Reliance is expected to open higher and that may support Nifty.
8. But on Tuesday it was ICICI Bank and Kotak Bank that supported the market, particularly Bank Nifty.
9. FIIs have bought for Rs 1038 crores in Cash market while DIIs have bought for Rs 37 crores.
10. Nifty max pain is at 10750.
11. Bank Nifty max pain is at 30400.
12. But I am expecting both indices to close higher than Max Pain levels.
13. Traders will like to close positions ahead of 3 day weekend.
14. That may bring some sharp move towards the end.
15. I am still expecting Nifty to trade between 11500 and 12000 in this series.
16. Remember I suggested Nifty 11700 straddle at Rs 280?
17. Bank Nifty moved sharply in the last two trading sessions and today's weekly expiry will make it more volatile.
18. Premiums were very high in Bank Nifty.
19. I sold Bank Nifty 30200PE, 30800CE for expiry play.
20. I will make good profit if Bank Nifty opens less than 100 point away from Tuesday's close.
21. Reliance will see increase in IV.
22. I am planning to do some Call ratio spread, if there is any gap up of more than 2%.
23. Planning to sell 1300PE on any dip.
24. A simple short strangle will be good in HDFC Bank as HDFC Bank never surprises the street either on positive side or on negative side.
25. Monday's trade will be more interesting as both Reliance and HDFC Bank, two index heavy weights, will react to their results.
26. Nifty future may trade between 11750 and 11850.