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Pre - Market Report (12th May 2020)

  1. US markets closed on a Flat Note Yesterday.
  2. Asian markets are mostly Negative.
  3. SGX Nifty is trading near 9140. Down almost 80 Points as of now.
  4. Yesterday our Markets have tested the higher range band of 9450 and today we are likely to test the lower band of the Range     ie ,9100.
  5. Will be Interesting to see if we hold on to the lower range of 9100 today.
  6. Bank Nifty Punctured the Nifty rally Yesterday. It is highly Underperforming Compared to Nifty.
  7. ICICI Bank closed 6% lower Yesterday which led to high Underperformance in Bank Nifty.
  8. China have reported several fresh new cases of Corona Virus.
  9. While there is Optimism related to Economic STIMULUS , easing of Lockdown etc but the fear is relating to the second Wave of spreading of Corona Virus.
  10. Detailed Analysis of FII & DII Data Below:

  11. Auto Sector & Reliance were the star of the Show Yesterday.
  12. Maruti is commencing it's Manufacturing activities with 50% Capacity 
  13. Reliance features in Top 5 Companies in the World that has given maximum returns since the Lows of May 2020.
  14. Yesterday a meeting was Chaired between Prime Minister & State Chief Ministers regarding the Lockdown.
  15. Most of the State Ministers have Requested for an Extension of Lockdown.
  16. Since the Beginning of May Month , Nifty has been Trading within a Range of 9100 to 9450.
  17. Expecting this Range to continue for few more Trading Sessions.
  18. If 9100 gets taken out then the Next Support is around the levels of 9000 for Nifty.
  19. Sold 8700 PE , 8750 PE , 8800 PE.
  20. Sold 9600 CE , 9650 CE , 9700 CE.
  21. All my Trades are of Weekly Options.
  22. I maintain my View that Nifty might not breach the levels of 9000 this Expiry.
  23. Traders who are Expecting Breakouts , Breakdowns are getting Trapped in this kind of Market.
  24. This Market is not a chasing Market.
  25. Do not Pre assume that we will have a Breakout / Breakdown way before in your mind.
  26. This will trap you on the either side of the Range. Trade what Appears on your Trading Screen.
  27. This Market is a Market which is Favouring Risk - Reward brilliantly.
  28. So Taking Contra Bets near the Boundaries is the way ahead & if Breakdown / Breakout happen be Ready to turn your Positions.
  29. Bank Nifty will continue to Underperform the Nifty.
  30. Financials are in a severe Bear Market & they Remain to trade lower.
  31. Recommended SBI & Bajaj Finance for Shorting Opportunities few days before in a Blog and both are Trading near their 52 Weeks Lows CONSISTANTLY.


itsMysticalPoet said…
Now ur blogs are giving more value coz ur are suggesting us stocks also. Lots of good wishes to u sir

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