Pre Market Report, March 21, 2018 | Stocks and Commodities

March 21, 2018
Time: 8.30 am

Pre Market Report:

1. US markets were up. Asian markets are all higher.
2. Japanese markets are closed.
3. SGX Nifty is trading about 10 points higher.
4. Local cues are dominating the markets.
5. We are hugely under performing the world markets.
6. As and when the dust is settled, we might zoom towards 10500.
7. Until then we may consolidate with huge volatility.
8. This volatility is likely to continue until the end of the month.
9. Today the focus is on Fed meeting.
10. Though 25 basis point hike is factored in, what people will be watching is the future guidance.
11. That will make or break the markets.
12. But in my opinion, Fed is likely to give Dovish statement rather Hawkish.
13. Both FIIs and DIIs were net buyers in Cash market.
14. Put together they have bought for about Rs 1000 crores.
15. But FIIs are still shorting in F&O.
16. There is huge short position in F&O.
17. Any short covering can take the markets immediately towards 10300.
18. But will that happen, if happens when will that happen, is a billion dollar question.
19. Bank Nifty started under performing once again.
20. HDFC Bank is looking very weak.
21. I am expecting, volatile, range bound, slightly positive market today.
22. Nifty future is likely to take support at 10102, day before yesterday's low.
23. Resistance will be at 10220.