Pre Market Report, April 16, 2018 | Stocks and Commodities

April 16, 2018
Time: 9 am

Pre Market Report:

1. US markets fell on Friday as corporate results were not as good as expected.
2. On Saturday morning, there was missile attack on Syria.
3. But there was no retaliation by Syria.
4. US and its allies also said there will be no more missile attack.
5. So Asian markets opened slightly higher.
6. But Hong Kong market fell 700 points intraday, do not know the reason.
7. SGX Nifty started around 10480 but fell about 50 points from there.
8. Infosys ADR was down by 7.7% in US on Friday.
9. But we need to remember that Infy ADR was up by 5% the day before in US.
10. So Infy may fall by 3 to 5% today.
11. Other than the knee jerk jerk reaction, market set up look bullish.
12. Last Friday there was unwinding n 10600CE and increase in OI in 10700CE.
13. Aggressive Put writing also happened.
14. So the downfall may be limited to 50 to 60 points in Nifty.
15. Today WPI data and Monsoon forecast from IMD will change the things later in the day.
16. Any gap down of more than 60 points is a buying opportunity. 
17. Markets may consolidate between 10400 and 10500 until the next trigger comes.
18. We can expect Nifty future also to trade in the same range today.
19. IT and Auto stocks will be in focus.
20. Markets will be jittery until we know the reasons for Hong Kong fall.