Pre Market Report, March 8, 2017 | Stocks and Commodities

March 8, 2017
Time: 8.45 am

Pre Market Report:

1. US markets closed lower for third day due to profit booking.
2. Most Asian markets are also lower.
3. But for the kind of rally that the world markets went through, this kind of little profit booking is healthy for the markets.
4. FIIs have started buying in huge quantities in Cash market.
5. DIIs have started selling equally in Cash market.
6. In F&O, FIIs are mostly short.
7. Markets are in consolidation mode ever since Nifty broke out of the range 8700-8850.
8. For the last two weeks Nifty has been trading in the range 8850-9000 range.
9. Today is the final phase of UP elections.
10. Today evening, exit poll results will be known to media people.
11. But that can be released to public only tomorrow evening.
12. But the influencial people will know the results one day in advance and that will be reflected in tomorrow's market.
13. So next three days of trading will be very important.
14. Tomorrow, influencial people will know the exit poll results.
15. Day after tomorrow, everybody will know the exit poll results.
16. On Monday everyone will know the actual results.
17. Since FIIs are on the buy side in Cash market, liquidity is high in general, markets may fall in a knee jerk reaction but will recover eventually, in case of negative results from state elections.
18. In case if the results are positive, then the markets will test all time high straight away.
19. This is the first time, there is one day window for influencial people to capitalise the exit poll results.
20. It will be interesting to see how markets move tomorrow.
21. I have sold Put options in Nifty 8500 and below.
22. Call options at 9200 and above.
23. Today Nifty future may trade in a range with volatility.
24. Nifty may make some significant move towards the end of the day.