March 2, 2017
Time: 8.35 am
Pre Market Report:
Time: 8.35 am
Pre Market Report:
- US markets are moving higher leaps and bounds.
- SGX Nifty hit a high of 9040.
- Most Asian markets are higher.
- But now, SGX Nifty has colled a bit and trading around 9000.
- But still this will be the first time in more than a year Nifty fututre will be crossing the magic figure of 9000.
- Though 5 state election results are key events, UP results will be the most important.
- Betting markets predict a good show by BJP.
- BJP is likely to get more than 180 MLAs in UP which may still be short of simple majority.
- Anyway by next Wednesday evening exit poll results will be out and markets will react on Thursday and Friday.
- Actual results will be on Saturday and markets will react on Monday.
- Today Bank Nifty will be volatile due to weekly expiry.
- So far only Banks and Auto did well, now slowly other sectors are catching up.
- Metals did well yesterday. IT is also picking up.
- But this is time to be cautious.
- DIIs who have been buyers from Nifty 7900 level to Nifty 9000 level, may turn sellers from here onwards.
- Nifty 9000 to 9100 level will be crucial trading range, I do not expect Nifty to cross all time high figure of 9100 befor state election results.
- I still believe that 8700 to 9100 is the range for next few days.
- "Prime Membership" figures will be keenly watched by the markets for Reliance JIO for the next few weeks.
- Nifty future may trade between 8960 and 9050.
Comments
Post a Comment