Pre Market Report, March 13, 2018 | Stocks and Commodities

March 13, 2018
Time: 8.40 am

Pre Market Report:

1. US markets are consolidating. Dow was down but Nasdaq was up.
2. Asian markets are mostly flat with some positive and some negative bias.
3. IIP and CPI Inflation data both came surprisingly positive.
4. But SGX Nifty is trading about 15 points lower.
5. Yesterday's rise was due to short covering.
6. That too in the last one hour, even PSU Banks which were very weak in the morning, started recovering.
7. Due to the Inflation data, Bank Nifty may out perform Nifty today.
8. For the last many days, Bank Nifty has been under performing, mainly due to PNB Scam.
9. PNB is set to clear all the money to other banks due to the Scam, so it may be positive for other banks.
10. This volatility is not going to die any time soon.
11. This may continue until the end of March.
12. Today evening Inflation data is due from US and that will affect the sentiment once again.
13. China Manufacturing PMI data is also due tomorrow morning.
14. So we may consolidate today and again make a move tomorrow.
15. Technicals are not showing uptrend convincingly.
16. If Nifty has to move higher, then Banking stocks will have to contribute.
17. Last one hour of trading will decide the trend for the rest of the series.
18. For the time being one may BUY Nifty 10100PE, SELL 10000, 9900, 9800PE.
19. This strategy will give some profits.
20. Once the uptrend is confirmed, then one can roll over the positions to April.
21. TCS stake sale at 4 to 6% discount may create some problem in the morning.
22. TCS may open 3 to 5% down and since it is an Index heavy weight, Nifty may be down marginally in the morning.
23. Nifty future may trade between 10380 and 10480.