Pre Market Report, March 30, 2020 | Stocks and Commodities

March 30, 2020
Time: 8.15 am

Pre Market Report:

1. US markets closed 4$ lower on Friday.
2. Asian markets are mostly negative.
3. Markets are falling despite Stimulus measures announced or to be announced by China and Japan.
4. SGX Nifty is trading closer to 8400.
5. The data coming from US is disturbing.
6. More than 1 lakh infected in US.
7. The testing goes on, cases likely to increase in the coming days.
8. Though Asia is far better in controlling the Virus, US sentiment will hit Asian markets.
9. Last time, Nifty retraced from 8500 to 10100.
10. Entire gain was lost in next three days.
11. Now Nifty retraced from 7500 to 9100.
12. Now again started falling.
13. Nifty should not break 7500.
14. If 7500 is broken, then there will be another wave of sell off.
15. April series, very first day, Nifty future traded at 100 point discount compared to 60 point premium the day before.
16. Bank Nifty future was trading at 250 point discount on Friday.
17. The fear is at its extreme right now.
18. Bank Nifty fell from 20K to 16K, then shot up to 21K, then fell to 19.5K.
19. All happened in one week time.
20. As I have been saying, stay away from market until VIX cools down to 30.
21. This week expiry, we have only 3 more trading sessions. Thursday is a holiday.
22. Huge volatility is likely to continue.
23. Corona spread is under control, in case, if that shoots up and if the lock down is extended beyond 21 days, then markets are likely to crash once again.
24. Remember Nifty hit lower circuit the day after 21 days lock down was announced.
25. Either be away or sell far OTM calls as and when market bounces.
26. Even Nifty 11000CE is trading around Rs 40 for April monthly expiry.
27. Better safe than sorry.
28. There is no point in predicting the range for Nifty or Bank Nifty for today's trade.
29. In a highly volatile markets, Nifty can trade in any range.
30. I sold 9500, 9600, 9700, 9800, 9900, 10000CE in weekly options.