Pre Market Report, March 9, 2018 | Stocks and Commodities

March 9, 2018
Time: 9.00 am

Pre Market Report:

1. Trump finally signed diluted Steel Tariff hike.
2. Due to the dilution, markets reacted positively.
3. Asian markets are up.
4. SGX Nifty is trading higher than yesterday's high.
5. That is a very good positive sign.
6. Otherwise trade set up remains the same.
7. FII selling in Cash market buying in F&O market.
8. DII buying in Cash market.
9. For the very short term Nifty has made double bottom around 10140, around 200DMA.
10. So things may turnaround anytime.
11. Markets may consolidate ahead of key US jobs data.
12. PSU Banks seems to have bottomed out.
13. Even ICICI Bank has shot up.
14. So worst seems to be over for Banking stocks.
15. Yesterday Bank Nifty weekly expiry would have affected any meaningful bounce.
16. Today we can expect Bank Nifty to out perform Nifty.
17. We can expect Nifty to trade between 10200 and 10300.