Pre Market Report, April 5, 2017 | Stocks and Commodities

April 5, 2017
Time: 8.35 am

Pre Market Report:

1. I could not write blog on Monday as I was in my village for temple festival.
2. US marets closed marginally higher after a slightly volatile session.
3. Asian markets are mostly higher though marginally.
4. SGX Nifty is also trading marginally higher at 9290 now.
5. SGX Nifty crossed 9300 few times in the last two days.
6. Reliance JIO adding more than 7 crore Prime customers was a pleasant surprise.
7. L&T seems to be doing well and its likely target is Rs 1800.
8. Banking stocks picked up the momentum in tha afternoon on Monday.
9. IT stocks will be in focus today due to H1B visa regulations.
10. Rupee is trading at multi month high is a reason why we feel that there will be no significant selling by FIIs.
11. Last week I mentioned that Nifty is likely to trade between 9000 and 9500 this series.
12. This is a small series with only 18 trading sessions.
13. Of which two trading sessions gone, we have only 16 more.
14. I intend to sell Maruti 6400, 6500 and 6600 Calls and 5800, 5700 and 5600 Puts.
15. I am expecting Maruti to trade between 5800 and 6400.
16. FIIs were net buyers for Rs 534 crores on Monday and DIIs also bought for Rs 33 crores.
17. WHen this kind of things happens, markets may move significantly higher and then there may be a good correction.
18. We can expect correction in May series.
19. Nifty future may find resistance at 9340.
20. Support may be at 9240.