Pre Market Report, February 3, 2017 | Stocks and Commodities

February 3, 2017
Time: 8.25am

Pre Market Report:

1. US markets closed almost flat.
2. Asian markets are cautious ahead of US employement data.
3. SGX Nifty is also trading flat.
4. We are likely to consolidate ahead of RBI policy next Tuesday.
5. Bank Nifty is looking strong due to PSU Banks and Axis, ICICI duo.
6. Yesterday market trend is a strong indication that we are not going to fall significantly from here.
7. Though FII figures were not impressive day before yesterday, Nifty scaled another high of 2017.
8. All those stocks that under performed day before yesterday, like IT, Pharma stocks, did very well yesterday.
9. SUN TV will be in focus as Marans got clean chit in aircel-maxis case.
10. Many brokerages are upgrading SUN TV.
11. China markets opened today after a week long Chinese New Year holiday and that is trading in Red, affecting the sentiments in other Asian markets.
12. DIIs turned net sellers after a long time.
13. I expect Nifty to cross 9000 after consolidating around 8700 for sometime.
14. We need some triggers to make all time high, that could come from RBI policy or Good corporate results from top PSU Banks, Inflation data, etc.
15. Tax benefit for rented profit has been reduced in the budget and that is a big negative for Real Estate, so always avoid Real Estate Stocks.
16. Markets are likely to trade sideways in the first half.
17. There may be some sharp moves towards the end of the day on either direction.
18. Traders will like to book profits ahead of weekend and US jobs data.
19. Nifty is likely to trade between 8500 and 9000 for the next few weeks.
20. Today Nifty future may trade between 8680 and 8780.