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

March 7, 2017
Time: 8.35 am

Pre Market Report:

1. Yesterday I could not write "Pre Market Report" due to some personal reasons.
2. Even if I had written, it is business as usual.
3. No special news except that FIIs have bought in Cash market in huge quantities.
4. But yesterday there is some shorts in F&O, to factor in the gap up or gap down after the state election results.
5. After trading in the range 8700-8850 for most part of February series, Nifty broke out and has been trading in the range 8850-9000.
6. Slowly some other sectors, apart from Banks and Auto, picking up, Metal sector is doing well and Oil and Gas also doing well.
7. Infra stocks are also picking up.
8. But Pharma stocks are not doing well.
9. The range 8850-9000 will get broken by next week.
10. If it breaks on the higher side Nifty will test all time high by the end of the month.
11. All time high is around 9100 but 9100 Call is trading around Rs 65.
12. That is a respectable premium, so the people who buy will make profit only if Nifty settles above 9165.
13. Today and tomorrow, markets are likely to consolidate.
14. There may be some stock specific actions.
15. Volatility may increase ahead of exit poll results.
16. Today Nifty future is likely to trade between 8900 and 9020.