Pre Market Report, March 31, 2015 | Stocks and Commodities

March 31, 2015
Time: 8.45 am

Pre Market Report:

1. European and US markets shot up.
2. Expected shrt covering came in our markets also yesterday.
3. But going by option data, this is only a short covering rally.
4. Fresh long is not expected, particularly in Banking sector.
5. Put prices crashed but Call prices did not move significantly.
6. In fact, the future premium of Bank Nifty has come down by about 50 points.
7. SGX Nifty is marginally up.
8. Today and tomorrow markets are likely to consolidate ahead of long holidays.
9. Yesterday FIIs have sold in cash market also a negative for our markets.
10. However DIIs have bought more than what FIIs have sold.
11. Nifty future may consolidate in the range of 8560 to 8640.