Pre Market Report, December 18, 2019 | Stocks and Commodities

December 18, 2019
Time: 8.20 am

Pre Market Report:

1. We have 18 registrations for Mumbai workshop.
2. We can take 2 more people.
3. Those who are interested may call Mr Sharath 9600076997.
4. Earlier I said two things.
5. One. markets always hit all time high when no one expect it.
6. Yesterday there was no positive news flow or any other trigger.
7. If markets hit all time high when there is a news flow, then it will be met with selling pressure.
8. Second, I said, when all time high is hit first time, there will be some selling, after that selling, if all time high is hit for second time, that is the time to hope for a sustained rally.
9. Yesterday that has happened.
10. After a strong consolidation between 11800 and 12200, now Nifty is showing signs of break out.
11. So from now, any intraday dip is a buying opportunity.
12. Do not focus on the stocks that have shot up already like Kotak Bank.
13. Focus on the stocks that have under performed.
14. Bank Nifty first broke all time high.
15. In fact, without the help of Reliance, Nifty hit all time high.
16. Another important factor this time is that Nifty hit all time high without any euphoria.
17. You can find plenty of value buys.
18. FIIs have bought for about Rs 1248 crores.
19. Today market may consolidate ahead of GST Council meet.
20. We can expect consolidation for a day or two and may resume the rally.
21. Now the trading range may shift higher.
22. I have sold January Nifty 11800, 11900, 12000PE and 12400, 12500, 12600CE.
23. This is based on the expectation that the trading range is 12000 and 12400.
24. SGX Nifty is trading slightly higher.
25. Expect some profit booking by DIIs and that will make markets volatile.
26. I sold 12000, 12050PE in weekly Nifty options.
27. I also sold 31800, 31700, 31600, 31500PEs in Bank Nifty weekly options.
28. Bank Nifty 32000 monthly short straddle is doing very well.
29. Stay cautiously bullish now.
30. Nifty future may trade between 12140 and 12260.