Pre Market Report, February 2, 2018 | Stocks and Commodities

February 2, 2018
Time: 9.10 am

Pre Market Report:

1. Late due to personal work.
2. Dow recovered from the lows and closed in Green.
3. But Nasdaq, S&P were down.
4. Asian markets are also mixed.
5. FIIs have bought more than Rs 1000 crores in Cash market.
6. DIIs sold just one third of that.
7. FIIs were net buyers in F&O also.
8. But SGX Nifty is down by more than 100 points.
9. May be now people take cues from DIIs instead of FIIs.
10. Auto sector did well yesterday.
11. Banks dragged the markets down yesterday.
12. This LTCG (Long Term Capital Gain) Tax is very bad for markets.
13. After many decades, only now Retail people turned their focus on Mutual Funds, now there is tax there also.
14. But most politicians use agriculture to evade tax, but no tax for those people who declare crores in Agriculture income.
15. Even the world markets facing some resistance in the rally.
16. So markets may fall further.
17. Next support is at 10550-10600 levels only.
18. So it is time to sell call options.
19. Ratio spread in Calls is the right strategy now.
20. As long as yesterday's low is not broken, we can hope for some recovery.