Pre Market Report, September 13, 2019 | Stocks and Commodities

September 13, 2019
Time: 8.15 am

Pre Market Report:

1. US markets closed higher.
2. Asian markets are generally higher.
3. But we are not following global cues.
4. SGX Nifty is almost flat.
5. Auto stocks fell.
6. There was some news report that said there will be no GST rate cut for autos.
7. Yesterday after market close, ECB news was positive, IIP data was better, Inflation was not bad.
8. US-China Trade war news also getting more and more positive, Trump is reportedly planning to sign an interim agreement with China.
9. FIIs also turned as buyers and bought for Rs 783 crores in Cash market.
10. That is a significant turnaround in FII sentiment.
11. Nifty future fell 120 points from intraday high which was totally disappointing.
12. Since markets were moving higher for the last few days, traders booked profits ahead of key data of IIP, Inflation, ECB stimulus.
13. If that is the reason, markets should resume its uptrend today.
14. Today, at the end of the day, markets should close positive.
15. If not the hope for this series will be very very low.
16. So far 8 trading sessions gone in this series, Nifty has not gone anywhere.
17. After brutal July and August, if September is not able to close positive, it will be really bad.
18. Earlier I mentioned, I just sold October 11000CE, December 11000CE, naked without any hedge and will review only when 200DMA is crossed.
19. I will sell more call options if markets trade negative today afternoon.
20. Planning to sell naked Call options from 11200CE to 11500CE in October if Nifty trades negative by today afternoon 2.45 pm.
21. YES Bank may come under pressure due to Altigo news.
22. PSU Stocks may come under pressure as DIIs are turning net sellers in Cash market.
23. Yesterday SBI and ICICI Bank did well, if not market would have fallen in the morning itself.
24. We can be bullish only if Nifty future crosses 11200.
25. Two weeks before I said Nifty is likely to trade between 10800 and 11200 for this month.
26. Looks like that will happen, we will be happy at least if Nifty trades closer to 11200 than 10800.
27. We are not responding to Global cues and that is really very bad.
28. Reliance met with huge selling pressure and other index heavy weights like ITC also.
29. I will take bearish positions if Nifty future falls below 10980.
30. I expect Nifty future to trade between 10980 and 11100.