Pre Market Report, February 7, 2017 | Stocks and Commodities

February 7, 2017
Time: 8.50

Pre Market Report:

1. US markets closed slightly lower.
2. But Asian markets are mostly in Green.
3. SGX Nifty is slightly down and trading around 8805.
4. That is due to the FII selling in Cash market yesterday.
5. FIIs have sold for Rs 403crores yesterday in CAsh market.
6. However DIIs have bought for Rs 449 crores in Cash market.
7. Today RBI policy will be the key event.
8. RBI policy comes at a time when Bank Nifty is up more than 2500 points in the last few weeks.
9. In addition to RBI policy, PNB results will be keenly watched.
10. On Friday SBI and Bank of Baroda will declare results.
11. Markets may be rangebound with negative bias until afternoon.
12. Then RBI policy will decide the direction.
13. BHEL, Ceat, Tata Steel, IDBI Bank are some of the key companies that will declare results today.
14. Tamil Nadu's political developments will support Sun TV price.
15. I sold Sun TV 600 Put and 780 Call yesterday.
16. Mid cap index is already at all time high while Nifty is 4% away from all time high.
17. If there are some positive triggers, Nifty may hit all time high in the next 6 weeks.
18. This is happening despite index heavy weights Infy, TCS and Reliance not contributing anything to the index.
19. Be ready for a volatile trade ahead of RBI policy and India VIX is likely to fall after the policy.
20. Nifty future may consolidate between 8780 and 8860 today.

Note: RBI policy is not today, it is tomorrow. Sorry for the error.