Pre Market Report, February 10, 2020 | Stocks and Commodities

February 10, 2020
Time: 8.15 am

Pre Market Report:

1. US markets fell on Friday, despite very good jobs data.
2. So Asian markets are down.
3. Corona virus death surpassed SARS death.
4. More than 800 people have died so far.
5. So profit booking happening as the recovery was very sharp last week.
6. SGX Nifty trading with minor losses.
7. Kotak Bank is hugely under performing.
8. So Bank Nifty fell.
9. It was all round profit booking on Friday.
10. Surprisingly, on Friday FIIs were net buyers and DIIs were net sellers.
11. The only market that is trading in slight green is China right now.
12. Markets may go for consolidation.
13. Markets may be choppy between 12000 and 12200.
14. We need some trigger to break out or break down.
15. Nifty 12000PE has the highest open interest, so that is a very good support.
16. On any intraday fall, one can consider selling 11800PE.
17. Same way, on any bounce, one can sell 12400CE.
18. I am expecting Nifty to trade between 12000 and 12400 for the rest of the series.
19. Still we have to wait for IIP data and Inflation data this week.
20. Nifty future may trade between 12040 and 12160.