Pre Market Report, April 5, 2019 | Stocks and Commodities

April 5, 2019
Time: 8 am

Pre Market Report:

1. US markets ended mixed with DOW up and Nasdaq down.
2. DOW out performed due to Boeing as the US-China trade talks are going well.
3. Aian markets are also mixed.
4. Many markets in Asia like China, Hong Kong, are closed.
5. SGX Nifty is trading about 25 points higher.
6. Yesterday RBI policy induced volatility has played out.
7. But as usual after the event, India VIX came down and hence prices of all OTM options also fell.
8. FIIs have sold for Rs 200 crore plus while DIIs have bout for Rs 1200 crore plus.
9. The game of buying and selling by FIIs and DIIs in the opposite direction seems to have started.
10. Many retailers may get caught in cross fire.
11. Surprisingly it is the IT stocks that came under selling pressure.
12. We can expect some short covering towards the end of the day today.
13. Bank Nifty futures premium was 275 points to spot Bank Nifty which is unusual.
14. Even Nifty future premium of 90 points is also very high.
15. I am expecting Nifty to trade between 11500 and 11900 for the rest of the series.
16. Towards the end of the series, things may change as corporate results start pouring in.
17. Results season begins next Friday with both TCS and Infy declaring results on the same day.
18. I am planning to sell Nifty 11500PE, 11400PE, 11300PE, 11200PE, 11100PE, 11000PE and 11900CE, 12000CE, 12100CE, 12200CE in some of my HNI clients accounts.
19. I have already sold Bank Nifty 28500PE, 28000PE with directional (bullish view) view.
20. Nifty future may trade between 11650 and 11750.
21. There may be some sharp move towards the end.