October 23, 2019
Time: 8 am
Pre Market Report:
Time: 8 am
Pre Market Report:
- US markets closed negative.
- Asian markets are also negative.
- SGX Nifty is down slightly.
- Brexit delay is hurting the sentiment.
- Axis Bank results came after market hours, it seems to be good.
- But net loss is declared due to some one time provision.
- Axis Bank GDR is up by 3.6%.
- But it is not a liquid contract.
- Infosys alone brought down the Nifty by 120 points yesterday.
- RBL results were not good but the stock is already down by more than 50% in last few months.
- So it should have been factored in.
- ICICI Bank hit 52 week high yesterday.
- Bank Nifty out performed as expected.
- Today also it may out perform.
- The momentum was spoiled by Infosys.
- Sold 11800CE yesterday in weekly options when intraday sell signal was received.
- Sold at Rs 17, closed below Rs 10.
- Today also, any intraday spike, will look to sell 11800CE.
- Yesterday sold 29000PE and 30000CE in Bank Nifty weekly options.
- Bank Nifty 29000PE and 30000CE added huge OI yesterday.
- Today looking to sell more CE or PE depending on market conditions.
- PSU banks are doing well.
- Ahead of results, SBI may see further short covering, if markets are positive.
- Markets were up for 6 straight days and now it is time for consolidation.
- After some consolidation, markets may head higher in November.
- All depends on Global cues.
- Infosys may stabilise as 16% fall has factored in the negatives.
- Hero Moto, Bajaj Auto, HCL Tech, L&T are some key results due today.
- Maruti, ITC results are due to morrow.
- So these stocks may see action today.
- Consolidation is good after a huge run and any dip below 11600 is good opportunity to go lone with some hedge.
- I am planning to sell November 12000CE if I take any long positions.
- In addition, will sell weekly options.
- Planning 30000 short straddle in bank Nifty for November expiry.
- Nifty future may trade between 11600 and 11720, yesterday's range basically.
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