Pre Market Report, February 28, 2018 | Stocks and Commodities

February 28, 2018
Time: 8.45 am

Pre Market Report:

1. Yesterday while writing the report, I was not aware of PNB news.
2. So my prediction all went wrong.
3. Yesterday PNB spoiled the party.
4. Today it seems that ICICI will spoil the party.
5. ICICI ADR is down by 2.5%.
6. FII keep selling in Cash market.
7. Though FIIs keep buying in F&O, still the sentiment will be down.
8. Day before yesterday Dow shot up by 400 points but we fell due to PNB news.
9. Yesterday Dow fell 300 points, still for the last two days it is up by 100 points.
10. But we are going to gap down by more than 60 points.
11. This is how our markets are under performing the world markets for the last few weeks.
12. Things are likely to continue this way until some clarity emerges.
13. Today and tomorrow are two important trading days.
14. GDP data, Fiscal Deficit data, will affect the sentiment.
15. Yet I feel Nifty will be trading between 10300 and 10700 for the next two weeks.
16. After that corporate results will decide the trend.
17. By that time, the volatility may also go down both locally and globally.
18. We can expect some recovery as long as 10480 is holding.
19. I am planning to sell 10700 Call option if there is any intraday recovery.
20. Once again be ready for volatile markets.