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Pre - Market Report (4th May 2021)

  1. US markets closed Flat Yesterday.
  2. Asian markets are also Flat.
  3. SGX Nifty is down 20 points.
  4. Markets all over the World are in a Consolidation phase.
  5. Yesterday Nifty opened 200 points lower but closed exactly at same level as of Friday.
  6. This is an option writers delight.
  7. Yesterday's price action suggests that People are ready to buy at lower levels.
  8. Vice Versa people are ready to book profits and sell at higher levels too near 15k etc.
  9. I expect this Consolidation to continue going ahead for few more days.
  10. I have sold 14200 PE & 14950 CE Yesterday.
  11. Both were trading at very good premiums Yesterday.
  12. Premiums are still higher consolidating 3 days left for expiry.
  13. Yesterday India VIX crossed 24.
  14. When VIX is high Premiums are high & so is the Volatility.
  15. That's why even far away options having good premiums now.
  16. We have been trading between 14200 & 15000 and Market has been making big swings within this range.
  17. This Consolidation could go on for a week or so.
  18. FII's have become net sellers whereas DII's continue to support the Market at lower levels.
  19. Covid Cases are gradually reducing and there is a recovery in worst effected states like Maharashtra etc.
  20. Reliance in spite of posting decent results was down Yesterday.
  21. 14800 CE has the highest open interest in weekly expiry which indicates we may find it as a big resistance.
  22. Similarly 14500 PE has the highest open interest in Put options.
  23. Had taken 14800 straddle in the previous expiry and now sitting with almost 200 Points profit per lot in just 4 trading sessions. (23% return Approximately)
  24. 300 Points is nothing for Nifty in this kind of Volatility but expecting Nity to trade within this range for 1-2 days or maybe for this expiry.
  25. Nifty might Trade between 14560 to 14780 today.


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