Pre Market Report, June 26, 2019 | Stocks and Commodities

June 26, 2019
Time: 8.20 am

Pre Market Report:

1. Yesterday's trade was a repeat of June 20.
2. Nifty shot up about 170 points from intraday low to intraday high.
3. But once again met with selling pressure around 11850.
4. Fist good things.
5. Monsoon front there are some good news.
6. Monsoon is progressing well.
7. El Nino effect is out as per Australian weather agency. That will bring more rains to India.
8. For second day in row, FIIs and DIIs both were net buyers in Cash market.
9. FIIs have bought for more than Rs 1000 crores in Cash market.
10. Reliance which was responsible for drag in Nifty out performed yesterday.
11. Nifty future took support around 11650 and resistance was around 11850.
12. There was huge unwinding of Calls from 11700 to 12000.
13. Huge OI added at 11700PE, more than 11 lakh shares.
14. So 11700 will be a good support for this series.
15. Now if markets dip, then it will be a good opportunity to buy.
16. Pre budget rally will start if Nifty breaks 11850 on the higher side.
17. But that may not happen in this series.
18. I expect Nifty to trade between 11700 and 11850 today.
19. Coming to negative points.
20. DHFL defaulted again.
21. US markets were down.
22. Brent crude hit US$66.
23. Asian markets are generally negative.
24. 34 stocks getting out of F&O, will see heightened volatility and that may spill over to broader markets.
25. REC hit 52 week high. You may remember I bought at Rs 90, with Rs 11 dividend and Call selling, I have doubled the money in less than 1 year.
26. Now the focus will turn to G20 meet in Global cues and Budget in local cues.
27. Markets are likely to be highly volatile, premiums may crash due to theta decay.
28. I have sold 11850CE and 11900CE and 11700PE.
29. Auto stocks are stabilising, long term contra investors can buy Hero Moto Corp.
30. I am selling 2500PE in July series, prepared to take delivery if it falls below 2500.
31. SBIN and Titan are looking very bullish. I have lot of positions in both stocks.
32. Nifty future may trade between 11700 and 11850.