Pre Market Report, March 10, 2017 | Stocks and Commodities

March 10, 2017
Time: 8.55 am

1. US markets closed flat with positive bias after a volatile session.
2. Asian markets are mixed.
3. Exit poll results were good compared to some media reports earlier.
4. BJP is likely to win 4 out of 5 states.
5. UP is the key, if they get mjority in UP, it will be a sentimental booster.
6. SGX Nifty is trading marginally higher at 8975.
7. Earler exit poll results have gone wrong totally.
8. So the real rally will be only next week if the poll outcome is good.
9. Today markets are likely to consolidate with positive bias.
10. Nifty future will find resistance at 9020.
11. If that level is crossed then 9080 will be the next level.
12. Support will be at 8920.
13. FIIs are buying and DIIs have stopped selling.
14. So it is the right signal for markets to rally.
15. But markets may wait for a day.
16. Banking stocks out performed yesterday.
17. Relince has started consolidating.
18. ITC and Infosys also consolidating.
19. So the downside may be limited in these stocks.
20. I mention these stocks as these are the index heavyweights.
21. Reliance, Infy, TCS, ITC, these 4 stocks alone contribute 25% of the Nifty while the remaining 47 stocks contribute 75%.
22. DrReddy was trading around 4500 three years before and now trading around 2700. This is an example how people can lose money in markets.
23. Entire Pharma sector has been doing very badly.
24. Auto sector did well yesterday.
25. There will be some sharp move towards the end of the day.