Pre Market Report, March 24, 2017 | Stocks and Commodities

March 24, 2017
Time: 8.40 am

Pre Market Report:

1. US markets closed almost flat after a volatile session.
2. But today's trade in US will be more important.
3. It may be make or break trade in US tonight.
4. So our markets may consolidate today but make a significant move on Monday on either side.
5. FIIs have bought for more than a thousand crore in Cash market once again.
6. But DIIs have sold, FIIs continue to short in stock futures.
7. Reliance Capital has come out of F&O trade ban and shot up by 4%.
8. Sun TV was firm as expected due to Tamil Nadu political situation.
9. Yes Bank was firm due to reduced QIP issue.
10. SGX Nifty is trading almost flat.
11. That was the case with most Asian markets.
12. So today could be very well a day of consolidation everywhere.
13. But I expect one more leg of rally in our markets before expiry.
14. But even then the expected range of 9000 to 9300 will hold for this expiry.
15. Yesterday despite weekly expiry of Bank Nifty, trading was firm without any volatility.
16. I decided to put a stop loss for a part of my positions in Bank Nifty, exactly stop loss was triggered and within next few minutes Bank Nifty shot up 100 points.
17. Now I know how traders lose money. I lost Rs 40000 in just few minutes. 
18. But it was only one fourth of my positions, so remianing portion made good profit.
19. Today Nifty future may trade between 9080 and 9160.