Pre Market Report, September 25, 2019 | Stocks and Commodities

September 25, 2019
Time: 8 am

Pre Market Report:

1. US markets closed negative as Consumer Sentiment data was not good and Trump again started attacking China.
2. So Asian markets are also following US.
3. But the fall is limited across the board.
4. SGX Nifty is down by 10 points at this point of time.
5. Yesterday markets consolidated as expected.
6. All premiums have fallen so much.
7. Yesterday sold lot of Call options for intraday, all gave good profit.
8. Sold 32000CE at Rs 80 and it closed around Rs 15.
9. But markets consolidated with huge volatility.
10. Bank Nifty moved violently both up side and downside.
11. Bank Nifty saw addition of OI at 31000, 31500CE.
12. BN 31000 may be the resistance for this series, still people sell only 31500 as the premium is so huge.
13. I expect Bank Nifty to expire around 30500 if the momentum is intact.
14. I sold 30500PE in current week and bought 30500PE in next week and sold 31000CE in current week.
15. Nifty also saw good addition at 11700CE.
16. Nifty may expire between 11700 and 11800 if the momentum is good.
17. FIIs have sold for 828 crores surprisingly.
18. However DIIs have bought for about half of that figure.
19. So we can not take FIIs for granted yet.
20. This FII selling along with negative global cues will put markets under pressure today.
21. Since markets have shot up so much in 2 days, it may struggle to rise with negative global cues.
22. Nifty finding resistance around 11680.
23. So we can expect one more day of consolidation.
24. Yesterday Nifty moved in 100 point range.
25. That may continue today also.
26. Nifty may trade between 11520 and 11650.