Pre Market Report, April 12, 2017 | Stocks and Commodities

April 12, 2017
Time: 8.40 am

Pre Market Report:

1. US markets closed marginally lower after a volatile session.
2. Asian markets are mostly flat with some positive and some negative bias.
3. SGX Nifty is trading about 25 points lower at 9240.
4. Syria and North Korea issues are dragging the markets all over the world.
5. But this kind of news, after such a huge run in most world markets, the damage is very very limited.
6. That shows the underlying bullishness.
7. Even yesterday SGX Nifty was below 9200 before the market open, nothing has happened after the market open, yet Nifty future touched almost 9270.
8. FIIs were net sellers in Cash market but DIIs bought more than what FIIs have sold.
9. In addition, FIIs are net long in F&O market.
10. Moreover, FIIs have bought options in huge quantities.
11. Earlier Nifty consolidated between 8700 and 8850 in February, then consolidaed between 8850 and 9000 and then between 9000 and 9200.
12. Now it is consolidating between 9200 and 9300 which is very narrow range.
13. A breakout or breakdown is going happen sooner than later.
14. I hope it will be a breakout, not breakdown.
15. IT stocks will be in focus ahead of Infosys results tomorrow morning.
16. Markets have been consolidating in a narrow range and corporate results will be the trigger for breakout or breakdown.
17. Infosys holds the key for short term.
18. Banks look bullish, yesterday Bank Nifty hit all time high.
19. Nifty future may trade between 9200 and 9300.