Pre Market Report, June 17, 2020 | Stocks and Commodities

June 17, 2020
Time: 8.10 am

Pre Market Report:

1. Happy to announce Webinar - Options Unlocked in collaboration with BSE Investor Protection Fund hosted by Elearnmarkets.
2. Registration link: https://www.elearnmarkets.com/webinars/options-unlocked
3. This is a 1 hour 13 minute Webinar covering the basics of Options.
4. However I have explained in my own style.
5. There will be some stories, some jokes, some inspiration and lot of learning.
6. Register before we close registration.
7. Together we will make History.
8. Yesterday our markets were highly volatile due to Indo China border issue.
9. During the market hours, 3 deaths were reported.
10. But later it reported that 20 soldiers died.
11. It seems that China side also had casualties.
12. Let me talk about Indo China problem separately.
13. Now Asian markets are consolidating yesterday's huge gains.
14. Some markets shot up 5% yesterday.
15. But we have under performed due to border issue.
16. HDFC Bank and HDFC supported the market.
17. After a long time I see HDFC Bank as Number 1 among the gainers.
18. Generally Housing Finance companies have done well yesterday. Both HDFC and LIC Housing did well.
19. Reliance is also showing Resilience.
20. FIIs continue to sell.
21. They have sold for about Rs 1500 crores.
22. So far in the last one week, they have sold for Rs 7500 crores or US$ 1 billion.
23. So today, due to continued selling by FIIs and local cues like Indo China border issue, it is going to be difficult to predict the market movement.
24. Only consolation is that we have only 6 more trading sessions and theta decay will favour the option writers.
25. Reliance 1720CE, 1740CEs are trading actively with good premium.
26. Since I am not expecting Reliance to cross 1700 in this expiry, I am looking to sell these Options. 
27. Bank Nifty was very volatile as usual, yesterday 19000PE shot up from Rs 40 to Rs 340 and then came to Rs 75.
28. Earlier I have taken this position: SBI +1X180CE and -2X200CE. I am exiting this position. In between I sold 2X210CE and that also I am exiting.
29. Now there is no hope for SBI. Though smaller PSU Banks did well, SBI has been doing very badly.
30. Before the results, it was trading around 175, after good results, now it is trading below Rs 175.
31. My Reliance, HDFC Bank strategies are doing well.
32. Yesterday I sold ITC 170PE for Rs 1.15.
33. Nifty future should take support at 9780.
34. Resistance will be at 10000.
35. Need to watch Dow Futures, which is down right now.