Pre Market Report, December 3, 2019 | Stocks and Commodities

December 3, 2019
Time: 7.50 am

Pre Market Report:

1. On Friday Nifty future closed at 12092.
2. Yesterday it closed at 12091.
3. Absolute flat closing.
4. Banking stocks were weak.
5. What helped the market is the spike in Reliance.
6. Due to tariff hike by all telecom companies, all telecom companies shot up.
7. Friday's low for Nifty future was 12051.
8. Yesterday's low was 12052.
9. PSU Banks fell, ICICI Bank fell.
10. FIIs once again have sold, yesterday they have sold for Rs 1731 crores.
11. DIIs have bought Rs 753 crores.
12. In November series, first three weeks Nifty was flat on wek on week basis, closed just 10, 15 points plus or minus.
13. Only in the last week, Nifty shot up more than 200 points.
14. Now, December also looks something like that.
15. Markets are just in consolidation mode.
16. Nifty has given sell signal.
17. I do have some long positions in Nifty but have sold Call options aggressively.
18. Nifty December expiry, sold Call options from 12200 to 12500, Jan series from 12500 to 13000, March series 13000CE, in weeklies sold 12050, 12100, 12150, 12200CEs.
19. If Nifty future breaks 12050, will sell more call options.
20. China PMI data was positive, so markets all over the world were positive yesterday.
21. US PMI data was negative, so all markets are down today.
22. SGX Nifty is trading about 20 points lower.
23. I still believe Nifty will trade between 12000 and 12500 in December series.
24. Kotak Bank is looking very strong among Banking stocks.
25. On Friday Nifty future traded between 12051 and 12174.
26. Yesterday it traded within that range.
27. So markets will turn bearish only when it breaks 12051 on downside and will turn bullish only when it breaks 12174 on upside.
28. RBI policy on Thursday will bring some volatility in bank Nifty.
29. PSU Banks are looking weak.
30. SBI has already corrected by about 3%.
31. I sold Reliance 1600CE and PE.
32. Did some other strategies in bank Nifty which I posted in Twitter.
33. RBI policy on Thursday and Dec 15 deadline for China Tariff hike are the two key events this month.
34. Other than that December is usually a weak month.
35. Today Nifty future may trade between 12050 and 12160.