Pre Market Report, April 11, 2018 | Stocks and Commodities

April 11, 2018
Time: 8.55 am

Pre Market Report:

1. After a long time, US markets traded with relative stability.
2. Asian markets are not that positive.
3. That is mainly due to the reason that the good news has already been factored in yesterday.
4. SGX Nifty is almost flat with some positive bias.
5. FIIs have bought hugely in F&O.
6. But they have sold in Cash market.
7. DIIs buying has matched the FII selling.
8. We are near the 50 moving average resistance.
9. Either markets may consolidate for another two to three days.
10. Or Nifty will move swiftly towards 10480.
11. Yesterday markets were slightly higher mainly due to just few stocks.
12. Broader markets were little bit weak only.
13. Mainly HDFC twins under performed yesterday.
14. HDFC Bank fell 25 points preventing Bank Nifty from breaking out.
15. HDFC Bank alone contributed more than 100 points to Bank Nifty on the negative side.
16. Despite that Bank Nifty was higher yesterday.
17. Crude ha hit highest price in 3 years.
18. That is not a good news for Auto stocks.
19. Yesterday I bought 24800PE and sold 3 times 24600PE. Low risk low reward strategy.
20. If Bank Nifty continue to be positive (will be watching HDFC Bank), I will buy 25000PE and sell 3 to 4 times 24800PE.
21. Nifty future may trade between 10380 and 10480.