Pre Market Report, May 3, 2017 | Stocks and Commodities

May 3, 2017
Time: 8.25 am

Pre Market Report:

1. US markets closed in green after a volatile session.
2. Some Asian markets are closed.
3. Other Asian markets are mostly higher slightly.
4. SGX Nifty is trading around 9360, around 20 points higher.
5. FIIs continue to sell both in Cash market and F&O market.
6. If the selling accelerates, markets may go down.
7. On the other hand, due to these huge shorts, short covering rally may come at some points.
8. Even yesterday, markets were highly volatile, Nifty fell 90 points intrday but only to recover later.ter 2 pm, making Bank Nifty volatile in the last one hour of trade.
9. 
   
10. As long as DIIs support the markets aggressively, short covering rally may take Nifty to 9500 at some point.
11. We may need some positive trigger or a good gap up is required for that.
12. Bank Nifty has been doing well, today also Bank Nifty will be in focus ahead of ICICI Bank results.
13. ICICI Bank is expected to declare results after 2 pm, making Bank Nifty volatile during the last one hour.
14. Otherwise markets are likely to be range bound.
15. Crude oil has fallen to 5 months low will bring Auto stocks and OMCs in focus.
16. Technically markets seems to have bottomed out yesterday.
17. As long as yesterday's low is not breached, markets will be moving higher in the next few days.
18. Today Nifty future may trade between 9320 and 9400.