Pre Market Report, December 2, 2019 | Stocks and Commodities

December 2, 2019
Time: 8.10 am

Pre Market Report:

1. On Friday we saw profit booking ahead of GDP data.
2. GDP data came at 4.5%.
3. That was slightly better than expected.
4. Most people expected between 4 and 4.3%.
5. US markets also fell on Friday.
6. SGX Nifty fell about 45 points on Friday night.
7. But over the weekend, China Manufacturing data came positive.
8. That has lifted the sentiment in Asia.
9. Even US futures are higher.
10. SGX Nifty is almost flat now.
11. Over the week end, Auto sales data also came.
12. Except Maruti, all auto sales figure are not looking good.
13. YES Bank, RBL Bank will be in focus due to fund raising plans.
14. Due to low GDP data, expectation is high about rate cut by RBI on Thursday.
15. So Banking stocks will be in focus.
16. Reliance came under good selling pressure on Friday.
17. Tariff hike by all telecom companies will put all telecom companies in focus today.
18. So Reliance may trade in Green today.
19. One worrying factor is huge selling by FIIs for about 2000 crores in Cash market.
20. It may be just due to profit booking due to to GDP data.
21. We have to see what they do today.
22. Markets may turn volatile ahead of RBI policy.
23. Since markets corrected on Friday, I took some long positions.
24. Positions I took on Friday: All positions are in January Series.
25. (i) Long Future, (ii) Sell 12500 Call 2X, (iii) Buy 12000PE 1X, (iv) Sell 11700PE 2X.
26. Will continue to adjust positions as and when markets move.
27. Bank Nifty did multiple short strangle. (i) 32000, 32500, 33000, 33500CE sold and 32000, 31500, 31000, 30500PE sold.
28. Will make good profit if markets trade with slightly positive bias.
29. We also have to see how our Manufacturing PMI will come at 10.30 am
30. Nifty future may trade between 12040 and 12160.