Pre Market Report, December 4, 2019 | Stocks and Commodities

December 4, 2019
Time: 8.10 am

Pre Market Report:

1. Yesterday Nifty future broke day before yesterday's low.
2. Then fell about 60 points.
3. When Nifty future broke 12000, buying came.
4. Finally Nifty future closed at previous day's low.
5. Day before yesterday Reliance supported due to telecom tariff hike.
6. But yesterday there was no such support from any cornet.
7. Bank Nifty under performed.
8. Except Kotak Bank, all banks fell.
9. PSU Banks fell more, SBI has lost Rs 15 in last few days.
10. Bank Baroda fell 8 to 10%.
11. YES Bank fell about 10% and has come into trading ban as expected.
12. Yesterday Trump's tweet about trade deal has dented the sentiment in US.
13. He said there is no time frame to sign the deal which means there will be further tariff hike against China on Dec 15.
14. Asian amrkets are also following US.
15. SGX Nifty is down by about 40 points.
16. Crude is down, Gold up.
17. Bank Nifty has already corrected ahead of RBI policy.
18. For us, the bigger problem is FII selling.
19. For last three days, they have been selling heavily.
20. Yesterday also they have sold for more than 1000 crores.
21. Nifty future is trading at 50 points premium.
22. Nifty spot is below 12000.
23. Nifty shot up from 11900 to 12100 in the last week of November.
24. Now it has given up half of that gain.
25. Markets should consolidate and recover from here.
26. Otherwise, markets will turn bearish.
27. RBI policy will keep markets volatile.
28. I have sold call options aggressively.
29. In weekly I sold 12050, 12100, 12150, 12200CEs.
30. In Bank Nifty weekly, sold 32000, 32200, 32300, 32500CEs.
31. Today Nifty future may trade between 11980 and 12100.