Pre Market Report, Feb 11, 2021 | Stocks and Commodities

 Feb 11, 2021

Time: 8 am

Pre Market Report:

1. US markets ended mixed.
2. Many Asian markets are closed for holiday.
3. SGX Nifty is down by about 100 points.
4. Negative Global cues, huge selling by DIIs (more than what FIIs bought) for two consecutive days are the resons fro gap down.
5. Surely DIIs are not comfortable with Nifty above 15K.
6. Yesterday Nifty broke 15K and then recovered.
7. 200 points move in Nifty has become a common phenomina.
8. Bank Nifty finding resistance around 36500-36600.
9. Markets closed almost flat for two days.
10. Clearly 15260 is a strong resistance for Nifty now.
11. Either Global cues have to improve or DIIs should sell less than what FIIs are buying.
12. In case, if FIIs sell or stop buying, markets are likely to correct.
13. Yesterday huge Call writing was seen across all strike prices, from 15100 to 15500 in Nifty.
14. Huge Open Interest added at Bank Nifty 36000CE also.
15. So overall, markets may consolidate or correct few hundred points.
16. Reliance is showing some positive momentum.
17. ITC will be in focus ahead of its results today. (Yesterday I mentioned wrongly that results was yesterday)
18. Last two days, markets have been highly volatile.
19. We can expect that volatility to continue today also.
20. Despite such a volatile moves, India VIX was down slightly yesterday.
21. We have 11 more trading sessions for this series.
22. Yet the premiums are so high.
23. Even Nifty 14000PE which is more than 1000 points away, trading around Rs 30.
24. Usually high VIX markets, straddle will work better.
25. Nifty future may trade between 14980 and 15250.