Pre Market Report, June 14, 2019 | Stocks and Commodities

June 14, 2019
Time: 8.20 am

Pre Market Report:

1. Everyday markets are making big moves.
2. Everyday markets are highly volatile.
3. Yet, everyday India VIX keep going down.
4. Yesterday bank Nifty fell nearly 400 points only to shoot up by the same amount.
5. Short straddles and short strangles are doing extremely well.
6. I did Nifty 12000 short straddle at Rs 400, planning to square up around Rs 200.
7. Now it is around Rs 215, one or two more days of sideways movement, I will be able to square up.
8. Global cues are benign.
9. Crude shot up due to tanker attack, only to fall back over night.
10. The news just added a little bit of volatility.
11. Yesterday YES Bank fell more than 13%, yet bank Nifty managed to close positive due to support from Kotak bank and HDFC Bank.
12. After a huge swing, both Nifty and Bank Nifty closed almost flat.
13. Two weeks into the June series, markets have not gone anywhere.
14. Let us see whether markets make any big move in the next two weeks.
15. India VIX is below 14.
16. Crude is stable around $61.
17. India Bull shot up as the case was withdrawn in Supreme Court.
18. My positions are light, have Nifty straddles at 12000 and Bank Nifty straddles at 31500 and 31000.
19. Nifty between 11600 and 12400, Bank Nifty between 30250 to 32250, have no problem.
20. Now focusing more on portfolio hedging than trading.
21. Slowly planning to reduce trading activities.
22. Not planning to do anything as long as Nifty is trading between 11800 and 12050.
23. Some scalping trades may be a good idea.
24. There are no market moving major news.
25. So as usual expect market to close sideways after making some volatile moves.
26. Nifty future may trade between 11860 and 11980.