Pre Market Report, June 4, 2019 | Stocks and Commodities

June 4, 2019
Time: 8.20 am

Pre Market Report:

1. US markets ended mixed.
2. FAANG stocks fell more.
3. Alphabet (Google) fell more than 6% due to Anti Trust news.
4. Asian markets are also mixed.
5. Yesterday our markets surprised everyone by shooting up.
6. Hero became Hero by rising more than 5%.
7. Auto stocks shot up despite poor sales data.
8. FIIs have bought for more than Rs 3000 crores.
9. Crude also struggling around $60.
10. Nifty closed above 12000 for the first time.
11. But Bank Nifty under performed Nifty.
12. That may be due to RBI policy on Thursday.
13. Meanwhile, weekly Option premiums are so high due to Friday's flash crash and RBI policy.
14. I sold Nifty 11700, 11750, 11800PE in weekly options.
15. I also sold Bank Nifty 30500, 30400, 30300, 30200PE in weekly options.
16. Rupee is also trading in a comfortable zone of 69-70.
17. So June is starting very well. I did mention earlier that there is a possibility of a bigger up trend between June and October.
18. Pre monsoon showers are very bad according to Skymet.
19. US-China Trade war continues.
20. Now US is targeting Chinese students who want to study in US.
21. So markets are climbing the wall of worry.
22. When all these issues are solved, that will be the right time to exit the markets.
23. SGX Nifty is trading around 12075.
24. Markets may consolidate after a huge run yesterday.
25. RBI policy may make banking stocks jittery.
26. I sold 11500PE in monthly options, so it is the strike with highest OI.
27. Any fall below 12000 is a buying opportunity now for traders.
28. I have sold 12200, 12300, 12400, 12500CEs for my portfolio hedging.
29. Now Nifty future crossed 12000 decisively and traded for more than an hour, next resistance will be 12200.
30. As I said earlier, I am expecting Nifty to trade between 11600 and 12400 in this series.
31. Today Nifty future may trade between 12000 and 12140.