March 8, 2017
Time: 8.45 am
Pre Market Report:
Time: 8.45 am
Pre Market Report:
- US markets closed lower for third day due to profit booking.
- Most Asian markets are also lower.
- But for the kind of rally that the world markets went through, this kind of little profit booking is healthy for the markets.
- FIIs have started buying in huge quantities in Cash market.
- DIIs have started selling equally in Cash market.
- In F&O, FIIs are mostly short.
- Markets are in consolidation mode ever since Nifty broke out of the range 8700-8850.
- For the last two weeks Nifty has been trading in the range 8850-9000 range.
- Today is the final phase of UP elections.
- Today evening, exit poll results will be known to media people.
- But that can be released to public only tomorrow evening.
- But the influencial people will know the results one day in advance and that will be reflected in tomorrow's market.
- So next three days of trading will be very important.
- Tomorrow, influencial people will know the exit poll results.
- Day after tomorrow, everybody will know the exit poll results.
- On Monday everyone will know the actual results.
- 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.
- In case if the results are positive, then the markets will test all time high straight away.
- This is the first time, there is one day window for influencial people to capitalise the exit poll results.
- It will be interesting to see how markets move tomorrow.
- I have sold Put options in Nifty 8500 and below.
- Call options at 9200 and above.
- Today Nifty future may trade in a range with volatility.
- Nifty may make some significant move towards the end of the day.
Comments
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