Pre Market Report, February 27, 2017 | Stocks and Commodities

February 27, 2017
Time: 8.45 am

Pre Market Report:

1. US markets closed almost flat with positive bias.
2. Asian markets were mostly lower in the early morning.
3. But now there seems to be some recovery and most Asian markets have erased morning losses.
4. Even SGX Nifty has recovered about 40 points from morning losses.
5. Still SGX Nifty is down by 10 points compared to Friday's close.
6.  After an eventful series, we are are hetting into March series with a good three day rest.
7. March series is a five week series.
8. But no corporate results and hence there will be no stock specific violent moves.
9. Since Nifty has moved from 7900 to close to 9000 there can be some correction in march.
10. On the other hand, there is a possibility of hitting all time high of 9100.
11. I expect Nifty to trade between 8500 and 9200.
12. So option sellers may sell Put options from 8500 to 8000 and Call options from 9200 to 9500 depending on the risk ability.
13. State election resiults after two weeks will be the only key event for the markets.
14. Since we are entering the March series with more bullish bets, it is time to be cautious.
15. February series went without much volatility, but I am not expecting March series to go the same way.
16. Usually March and October are the months when markets either top out or bottom out.
17. Let us see what happens this month.