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Pre - Market Report (5th March 2020)

  1. Dow closed more than 1000 points higher.
  2. Volatility had begin last Monday & since then, out of 8 trading sessions, I think Dow moved more than 1000 point up or down on 6 days.
  3. Asian markets are positive.
  4. India is not following Global cues now as the Fear of Corona Virus in India is driving India markets crazy.
  5. Yesterday it was so volatile, Bank Nifty fell more than 1000 points and recovered more than 600 points from low.
  6. But FII sell figure has come down, below Rs 1000 crore, for first time in last two weeks.
  7. DIIs also have bought for less than Rs 1000 crore.
  8. Today is weekly expiry, so volatility is likely to continue.
  9. Despite strong Global cues, SGX Nifty has been trading in Red.
  10. Corona Virus fear seems to be receeding, particularly in China & is increasing in India.
  11. SBI Card IPO, QIB portion over subscribed by 57 times. 
  12. Those who haven't Subscribed yet , today is the last day to Subscribe.
  13. It is likely to over subscribe by more than 100 times as HNIs and Retail will apply only on last day & this is on the way of becoming a Blockbuster IPO & this might help SBI to stabilise.
  14. Bank Nifty under performed yesterday & HDFC Bank was the main Laggard.
  15. If there is any short covering, Bank Nifty will out perform.
  16. Good Global cues and bad Local cues, markets can go both sides and that is what happened yesterday.
  17. As I said earlier, Nifty will be making violent moves between 11000 and 11500.
  18. With high determination by DIIs and improving Global cues, I do not think these far OTM option buyers will make money if they hold the positions until maturity.
  19. Option buying is basically for momentum players, they get in and get out before momentum dies.
  20. Only hedgers will hold the options until expiry.
  21. US markets came out of correction territory. By US definition, more than 10% fall from high is called Correction and more than 20% fall from high is called Bear market.
  22. In last 3 days, Dow was up more than 1000 points on two days.
  23. If markets are higher, expect some TV channels to give some bad news between 2 pm and 3 pm. 😛😛😛.Be cautious in the last one hour, keep your volumes low.
  24. I have been Receiving many texts and messages as to how should one trade in such Volatile Markets?
  25. The Answer is to identify the Boundaries and trade Opposite trades near the Boundaries.These are the best Risk - Reward Trades in your Favour.
  26. Nifty short term support is 11100 and resistance is near 11400. Yesterday Nifty was Trading in the same range whole day. So taking Opposite Trades particularly when Markets are near Boundaries by keeping a strict Stoploss is the way to go.

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