Pre Market Report, April 4, 2016 | Stocks and Commodities

April 4, 2016
Time: 8.50 am

Pre Market Report:

1. US markets closed higher on Friday after a very good Jobs data and Manufacturing PMI data.
2. Asian markets are mostly higher.
3. SGX Nifty is trading around 7775.
4. China and Hong Kong markets are closed.
5. Monthly auto sales data are good so far so auto sector will be in focus today.
6. Hero Motocorp has sold more than 6 lakh bikes last month which is a record.
7. Capital goods stocks will do well and Manufacturing PMI data today will influence these stocks.
8. Stocks like Voltas, L&T, BHEL will do well.
9. Sunil Hitech, a midcap Capital Goods company is a good bet.
10. ITC may be under pressure as it closed down its cigarette factories due to lack of clarity in pictorial warning size.
11. Banking stocks will be in focus ahead of RBI policy.
12. Markets may start with a slight bullish view then Manufacturing PMI data around 10.30 and European markets open at 12.30 (Europe is likely to open with a strong gap up) will dd to the positive sentiment.
13. Nifty future is likely to take support at 7720.
14. Resistance will be at 7820.
15. Bank Nifty will be in focus, Bank Nifty future should take support at 16000. One can buy Bank Nifty if it falls more than 150 points intraday for positional trade with a target of 16800.