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Pre arket Report, June 19, 2019

June 19, 2019
Time: 8.25 am

Pre arket Report:

  1. Yesterday we had a high volatile session.
  2. At the end of the day, Nifty closed about 20 points higher.
  3. Mario Draghi said he will go for some stimulus if inflation is not picking up.
  4. European and US markets shot up after this news.
  5. Later Trump announced that he will be meeting China President at G20.
  6. SGX Nifty is trading about 50 to 60 points higher.
  7. Problem stocks are going for free fall like Jet, Rel Infra, PC Jeweller, DHFL, etc.
  8. Nifty and Bank Nifty both tested 50 DMA and reversed.
  9. Reversed with huge volatility.
  10. Usually that is the sign of bottom out.
  11. With gap up today and Fed policy tonight, yesterday's low should be the low for this series.
  12. Let us see how markets obey these past rules.
  13. However there is nothing to cheer about this gap up.
  14. Remember we have not been following Global cues for the last few days and today gap up due to Global cues will sustain or not? It is a million dollar question.
  15. Surely weak bears will be thrown out.
  16. Reliance is still looking very weak.
  17. Kotak Bank also looking very weak.
  18. These index heavy weights preventing markets moving higher.
  19. Since the Global cues are so good, naturally Crude prices will firm up.
  20. So that is a negative for us.
  21. ICICI Bank has shown remarkable resilience during market turmoil.
  22. Markets will be nervous ahead of Fed policy announcement tonight.
  23. Last one hour of trading is very important today to decide the direction.
  24. I have sold 11900 and 12000CEs and hope they will be safe.
  25. Nifty may face resistance at 11850 which is 20DMA.
  26. Bank Nifty I have sold 31000CE in weekly options.
  27. Markets reversing and stabilising is good for my positions, Nifty 12000 short straddle and bank Nifty 31000 short straddle.
  28. Expect another day of volatile movement.
  29. Yesterday I sold 29500PE in monthly Bank Nifty at Rs 52. I do not expect Bank Nifty to close below 29500 this month.
  30. Nifty future may trade between 11700 and 11820.


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