Pre Market Report, April 25, 2019 | Stocks and Commodities

April 25, 2019
Time: 8 am

Pre Market Report:

1. On April 8, Nifty touched a high of 11710 and low of 11549.
2. After that 11549 was not broken.
3. But many times, Nifty went closer to that but recovered.
4. Yesterday also Nifty went to 11579 then the short covering rally began.
5. Bank Nifty fell 150 points and then shot up 550 points, taking total swing to 700 points in less than 2 hours.
6. Around 1.30 pm Bank Nifty fell 150 points which is a bear trap.
7. Nobody expected such a big powerful rally that too when FIIs have sold in Cash market the day before.
8. But yesterday FIIs were net buyers for about Rs 1000 crores.
9. Yesterday US markets fell slightly.
10. Still Asian markets are mixed.
11. SGX Nifty is just down by 10 points.
12. SGX Nifty recovered about 30 to 40 points from the low.
13. Markets are likely to open flat as yesterday's rally was mainly due to short covering.
14. There may be some action after 1.30 pm.
15. Nifty max pain is at 11700 and Bank Nifty max pain is at 29800.
16. So on any dip I am planing to sell 29500PE and 11600PE. Premiums may be very little but safe.
17. It will be difficult to trade Bank Nifty as Bank Nifty will make violent moves due to its huge weightage of HDFC Bank.
18. So it is better to trade Nifty.
19. Today Maruti, Axis Bank, Tata Steel will declare results.
20. Axis Bank and Tata Steel will declare results after the market hours.
21. Maruti may declare around 3 pm.
22. Analysts said Reliance results were not good and HDFC Bank results were good but both stocks fell after the results, then Reliance has shot up but HDFC Bank is still lower.
23. Stock market proves that everyone is a stupid.
24. Bank Nifty has made more than 400 point move on 12 trading sessions out of 17 trading sessions so far in this series.
25. So expiry is going to be very difficult, particularly in the last half an hour.
26. Nifty future may trade between 11680 and 11780.

Note:

1. It seems that some people are using "comments" section in my blog to troll me or for promotion.

2. Planning to restrict "comments" section only for approved users.

3. If things do not get better, I may even block access to my blog to public, only approved readers can view my blog.