Pre Market Report, October 9, 2019 | Stocks and Commodities

October 9, 2019
Time: 8 am

Pre Market Report:

1. Nifty fell in all 5 trading sessions as of last Friday.
2. On Monday also, Nifty though holding until 3 pm, after 3 pm, fell to close negative.
3. Bank Nifty was very volatile, in pre market it was up by 200 points, just after open fell 200 points then shot up about 600 points only to fall in last one hour.
4. SBI closed below 250 while it was at 375 on budget day.
5. FIIs have sold for about Rs 4000 crores so far in October.
6. TCS and Infosys came under selling pressure ahead of results.
7. Last one week, it has been disappointing week for bulls.
8. One day Bank Nifty fell 1500 points intraday and another day it fell 1000 points intrday.
9. Similarly Nifty fell 300 points one day and 200 points another day.
10. US China trade talks seems to be going wrong way.
11. US banned some 28 tech companies.
12. Vice President of China was not given "Special Envoy" status.
13. US accused China of Human rights.
14. China is planning for some kind of retaliation.
15. Even Dow has fallen more than 1000 points in last few days.
16. Sometimes markets will see shot covering only when everyone turns bearish.
17. We can expect some short covering tomorrow or day after tomorrow depending on IndusInd Bank, TCS results.
18. Ealier trading range for Nifty was 11200 - 11800.
19. Now it has shifted to 11000 - 11600.
20. But as I stated earlier, 5 week month with corporate results and Election results, markets will go all over the places.
21. There is a rumour that Govt may announce DTC to cheer up the festive mood.
22. But do not know whether they can do it before Oct 21.
23. I sold Bank Nifty weekly Call options from 28200 to 29500.
24. Nifty Call options at 11300, 11350, 11400.
25. Premiums are so high due to high volatility and IndusInd Bank results on Thursday.
26. IndusInd Bank trading around 1250, I sold both 1250CE and 1250PE at about Rs 170.
27. SGX Nifty right now trading about 25, 30 points down but we have been very volatile.
28. RBI Governor hinted at further rate cut.
29. Be ready for some more volatility.
30. IndusInd Bank, TCS, Infy results, IIP and Inflation data all will be out by the end of this week.
31. So markets may find some direction next week.