Pre Market Report, February 19, 2018 | Stocks and Commodities

February 19, 2018
Time: 8.30 am

Pre Market Report:

1. Asian markets are positive.
2. But many Asian markets are closed.
3. US and European futures are also positive.
4. But that positivity is clearly missing in SGX Nifty.
5. SGX Nifty is just up by less than 20 points.
6. Local cues like PNB scam is playing more dominant role.
7. On Friday, Nifty fell nearly 180 points from intraday high.
8. But at the end of the day, the data suggests no short selling by FIIs in F&O, in Cash market DIIs bought more than what FIIs have sold.
9. Logically markets should have closed flat.
10. Today also bears will like to bring the markets down.
11. Today seems to be the last chance for the bulls to defend the market.
12. Nifty will have to cross 10480 in order to be positive.
13. If markets fall today, then that will spill over into expiry.
14. So today's trade, in my opinion, is very crucial.
15. Option writers would get chance to exit due to theta.
16. So the last few days of trading will be left to the futures players.
17. Nifty has made double bottom around 10300 and Bank Nifty has also made double bottom around 25000.
18. So if any recovery has to come, then it has to come from this level.
19. Bank Nifty holds the key for recovery.
20. In fact PNB itself recovered from the low levels on Friday.
21. Let us see what happens today.
22. Nifty future should take support at 10420.
23. Resistance may come at 10520.
24. Just in day, on Friday, there was a massive unwinding of 10500PE and massive addition in 10500CE.
25. So markets are likely to be highly volatile between 10400 and 10600.
26. Any close outside this range will decide the trend.