Pre Market Report, March 14, 2016 | Stocks and Commodities

March 14, 2016
Time: 8.25 am

Pre Market Report:

1. Asian markets are all very firm following US markets.
2. SGX Nifty is trading around 7570.
3. This is a significant gap up open from Friday's close.
4. Many technical people said 7550 is the resistance.
5. So if that is broken at the opening itself, Nifty is likely to head towards 7700 in the days to come.
6. I am getting some conflicting reports from technical people.
7. Some say market is bearish and some say market is bullish.
8. But right now, the screen shows the bullishness.
9. Bank Nifty will play an important role due to WPI inflation data.
10. Bullishness is seen in stocks like HDFC Bank, Yes Bank, Auro Pharma, Maruti etc.
11. 7200 seems to be the floor now.
12. One can sell Nifty 7200 Put and 7900 Call as Nifty is expected to trade in this range until expiry.
13. But the will be some action this week due to IIP data, WPI and CPI Inflation data, US and Japan central bank meet etc.
14. Markets may move higher with volatility, so buy on dips strategy may work.
15. Any intraday fall of more than 50 points in Nifty may be used as a buying opportunity.
16. Nifty future is likely to trade between 7500 and 7620.