Pre Market Report, May 28, 2019 | Stocks and Commodities

May 28, 2019
Time: 8.25 am

Pre Market Report:

1. Yesterday US markets were closed.
2. So no big Global cues.
3. Asian markets are generally positive.
4. China and Hong Kong markets are also higher due to some changes in futures trading rules in China.
5. SGX Nifty opened flat but after positive China markets, now trading slightly higher.
6. Now Nifty has crossed 11920 with conviction, probability of Nifty crossing 12000 is very high.
7. Yesterday it was Bank Nifty that took the markets higher.
8. Axis Bank and ICICI Bank hit all time high.
9. Reliance under performed the markets.
10. Since I am expecting Nifty to cross 12000, I am planning the strategy: 1. +1X12000CE, 2. -2X12100CE.
11. This strategy has no downside risk but upside risk above 12150.
12. If Nifty closes between 12000 and 12100, there will be good profit.
13. Yesterday I sold Nifty 11700PE and 11800PE.
14. I still feel 11700 is a very strong support for this series.
15. Nifty 12100 will be a very strong resistance.
16. Bank Nifty is likely to cross May 23 high.
17. But it was so volatile, Bank Nifty fell 1450 points from May 23 high, now looking to recover all that fall.
18. Those who have any strategy should be sitting with good profit (talking about sellers, not buyers), they may exit their positions, creating some volatility.
19. In fact I wanted to exit all my positions yesterday, since US markets were closed yesterday I decided to carry positions today.
20. Today at some appropriate time, I might exit all my positions, just keeping only 11700PE.
21. Planning some Call ratio spreads in June.
22. Planning the strategy: June Nifty +1X11900CE and -3X12200CE.
23. Any dip is a buying opportunity now.
24. I am expecting a major uptrend between June and October.
25. I am adding more stocks to my core portfolio.
26. Today Nifty future may trade between 11880 and 12000.