Pre Market Report, May 27, 2019 | Stocks and Commodities

May 27, 2019
Time: 8.20 am

Pre Market Report:

1. US markets closed higher on Friday.
2. Asian markets are mixed.
3. Crude price is a big positive for our market.
4. US markets are closed tonight.
5. Markets were highly volatile in last two days.
6. ICICI broke out and Bank Nifty shot up 800 points on Friday.
7. If HDFC Bank starts picking up, Bank Nifty will cross 32000.
8. Bank Nifty 32000 Put calendar is a good idea for June.
9. No straddle or strangle in June series.
10. There are two reasons. One, India VIX is low and hence the premium.
11. Second, I guess, it is going to be a trending month.
12. RBI policy, New Finance Minister announcement, Budget, etc all will make market trending.
13. Jet Airways Naresh Goyal was stopped from flying to London is a sentimental positive.
14. Market will believe that no one can now cheat bank and fly to London.
15. After huge volatile days markets may consolidate for a while.
16. Any big move should come only in next series.
17. Now it is time for option sellers to control the market.
18. I closed most of my straddles and strangles on Friday.
19. Still carrying Nifty 11800 straddle, hoping for further fall in premiums.
20. Rupee has been appreciating. (Good for me as I am transferring large money from India to Singapore)
21. Stable Govt., Rupee appreciation, soft crude prices, perfect conditions for all time high close.
22. But expiry related issues will play out.
23. One can consider Bull Put Ratio spreads as markets are likely to be bullish in June.
24. I am planning to sell 11700PE today as I am expecting expiry above 11700.
25. Max Pain is at 11700, so Nifty is likely to close above that.
26. Time to go long in equity with 2 to 3 year perspective.
27. Any dip, I am looking at Bajaj Finance, ONGC, Power Grid, SBI and Bank Baroda.
28. Planning to sell ATM puts so that I can take delivery if they fall.
29. Otherwise get good profit in puts.
30. Nifty future may trade between 11780 and 11920.