Pre Market Report, December 16, 2019 | Stocks and Commodities

December 16, 2019
Time: 8.10 am

Pre Market Report:

1. On Friday, Nifty future closed at the highest point of the day.
2. But Bank Nifty fell more than 100 points from the intraday high.
3. There was over all buying due to US-China Trade deal.
4. Nifty future after correcting nearly 350 points, now again trying to reach all time high.
5. On Friday, there was huge addition of OI at Nifty 12000PE.
6. There was unwinding in 12000CE.
7. So Nifty 12000 will be a support now.
8. Earlier the trading range was 11800-12200.
9. Now the trading range may shift to 12000-12400.
10. We need to see the advance tax payment figures of top corporates.
11. Stocks will be reacting to these figures, which will start coming now.
12. China Industrial data came positive.
13. Metal stocks are likely to do well.
14. Reliance started moving higher.
15. SBI low 308 on Thursday and high 333 on Friday.
16. Highly volatile stock, as usual.
17. Asian markets are mixed.
18. SGX Nifty is almost flat.
19. Bank Nifty may do well as stocks like Axis Bank, IndusInd Bank are picking up.
20. Axis Bank up more than 4% and top performer on Friday.
21. Also sold Bank Nifty 32000 straddle at Rs 800, it closed at Rs 750.
22. We can expect India VIX to fall further as FM press meet at 3.15 pm on Friday made option sellers jittery.
23. We have only 8 more trading sessions.
24. But markets are likely to make some big moves.
25. Markets are waiting for Dec 18 GST Council meeting.
26. Mid caps and small caps are doing well.
27. FIIs buying one day and selling one day.
28. But they have turned buyers in F&O market.
29. Nifty future is trading at huge premium. The premium may contract in the next few days.
30. Nifty future may trade between 12100 and 12200.