Pre Market Report, April 12, 2018 | Stocks and Commodities

April 12, 2018
Time: 8.15 am

Pre Market Report:

1. Yesterday markets were highly volatile as oil prices shot up and oil marketing companies fell.
2. Oil marketing companies fell as Govt. may ask them not to pass on the price hike as Karnataka election is looming.
3. Just after our markets closed, Trump tweeted about military action in Syria.
4. SGX Nifty fell about 50 points just after his tweet.
5. But when US markets opened, they have recovered and SGX Nifty also shot up from 10365 to 10462.
6. Now SGX Nifty is trading between 10430 and 10440, about 30 points higher.
7. Markets are likely to be range bound ahead of results season.
8. Infosys will declare results tomorrow after the markets close.
9. So the impact will be felt only on Monday.
10. Today evening IIP and Inflation data will be out.
11. They are likely to be good.
12. Yesterday Bank Nifty under performed Nifty.
13. If markets move higher, Bank Nifty may out perform.
14. HDFC Bank is the main drag on Bank Nifty for the last two days.
15. We need to see how this stock performs today.
16. Yesterday I sold both Bank Nifty 24500PE and 25500CE.
17. It seems that I will make good profit in both.
18. For the time being it is a buy on dip market.
19. Once 10430 is crossed in spot, there will be more short covering.
20. If corporate results are good, then we head towards 10700 by the end of this month.
21. But Global cues should be good.
22. Today Nifty future may trade between 10380 and 10480.