Pre Market Report, December 24, 2019 | Stocks and Commodities

December 24, 2019
Time: 8.15 am

Pre Market Report:

1. US markets were up.
2. Asian markets are mixed.
3. SGX Nifty is slightly down.
4. Yesterday markets were almost flat despite good fall in Reliance.
5. Banks were volatile but still did well.
6. FIIs have bought for Rs 1400 plus crores in Cash market.
7. That is really surprising.
8. Reliance alone dragged Nifty by 23 points.
9. Despite that Nifty is down only by 10 points.
10. HDFC and HDFC Bank did well in the last one hour.
11. That is expected when FIIs turn buyers everyday.
12. Autos and metals did well.
13. Today ahead of Christmas, volumes are likely to be low.
14. Nifty, for second day, traded within a small range.
15. Because volumes are low, markets can be volatile.
16. I feel that range bound trade will continue until the end of this month.
17. On Friday I sold Bank Nifty 31600, 31800, 3200PE, all lost half the value.
18. Also I sold Nifty 12000PE at Rs 10 on Friday, it has come down to Rs 3.
19. Yesterday I sold Bank Nifty 32200PE. I already have Bank Nifty 32000 short straddle at Rs 800.
20. Since Reliance fell Rs 40 in the morning, I sold 1520PE in current month and 1500PE in Jan series.
21. YES Bank, despite in trading ban, added 63% in OI in Jan series.
22. But it is out of trading ban today.
23. SBI is volatile as usual.
24. Liquidity is less in stock options due to physical delivery issues.
25. Nifty future is likely to take support at 12220.
26. Resistance may come around 12320.