Pre Market Report, March 15, 2018 | Stocks and Commodities

March 15, 2018
Time: 8.30 am

Pre Market Report:

1. Yesterday markets fell intraday more than expected.
2. That was due to the bad performance of BJP in by elections in UP.
3. But despite such a bad news, markets recovered and closed almost flat.
4. Yesterday evening Trump tweeted by saying China should reduce the trade surplus by 100 billion.
5. Also he appointed new Economic Adviser who is known to speak against China.
6. So US markets fell for third day and Dow has fallen about 600 points in the last three days. 
7. But Asian markets are not reacting as much as US markets.
8. Whenever markets are not reacting negatively to the negative news, we can reasonably assume that the bottom is somewhere near.
9. Similarly whenever markets are not reacting positively to the positive news, we can assume that the top is somewhere near.
10. So in my opinion, markets may bottom out and rally may resume.
11. If everything goes well, this expiry can be around 10600.
12. Yesterday both FIIs and DIIs were on the sell side and that may bring bears into action.
13. Markets are likely to be volatile due to Bank Nifty weekly expiry.
14. For the last many days, Bank Nifty has been making a minimum of 400 points move.
15. Expiry will add more volatility to the trade.
16. We may open slightly lower by 20 to 30 points but may recover and trade positive.
17. Many Asian markets recovered and trade positive right now.
18. Nifty future should take support at 10360.
19. Resistance may come at 10480.