Pre Market Report, November 8, 2019 | Stocks and Commodities

November 8, 2019
Time: 8.30 am



Pre Market Report:

1. Yesterday our markets were trying to come down.
2. At one point, Nifty broke 11950 in spot.
3. Then the news came that US has agreed to reduce some tariff against China.
4. Then Nifty shot up by about 80 points from the low.
5. For the fist time in last many months, Nifty closed above 12000.
6. Nifty future commands huge premium.
7. Today SGX Nifty is down by about 50 points.
8. Moody has given a negative report about India.
9. That is the main reason for SGX Nifty fall.
10. Nifty future may come down but Nifty may not fall proportionally.
11. The premium may shrink.
12. The next target for Nifty is all time high.
13. But that may not happen today.
14. Markets may consolidate around 12K for few more days.
15. If markets continue to trade lower, we can expect some sharp up move towards the end of the day.
16. FIIs are net buyers, Global cues are good, so logically market will be in up trend.
17. Moody has spoiled the mood of the bulls.
18. Nifty is likely to trade between 11800 and 12200 in this series.
19. Every dip of more than 100 point, time to sell put option.
20. Every rise of more than 100 points, time to sell call option.
21. Even 12300CE is trading above Rs 50. I have already sold this at Rs 50.
22. Ahead of long week end, traders will like to square off their trades.
23. That will make last one hour of trading interesting.
24. Overall market may open lower and consolidate and then there may be some sharp upmove towards the end of the day.
25. Nifty future may trade between 11960 and 12060.