Pre Market Report, April 17, 2018 | Stocks and Commodities

April 17, 2018
Time: 8.20 am

Pre Market Report:

1. US markets are trading with some stability and VIX keep crashing.
2. We opened lower yesterday but shot up later.
3. It seems that some people knew the good news about monsoon.
4. Now Nifty has shot up more than 500 points from the recent low.
5. It has recovered half of the losses made from the peak.
6. So markets may consolidate before resuming the uptrend.
7. Some strong corporate results are required for the markets to breakout.
8. Last few days of April series may see the breakout.
9. Markets move higher when we least expect.
10. Yesterday before markets open everyone was worried about Infosys fall of more than 7% the day before in US, fall of more than 500 points in Hong Seng, etc.
11. HDFC Bank seems to have broken out.
12. Yesterday it was HDFC Twins and ITC that supported the market.
13. Bank Nifty was up by more than 100 points despite PSU Banks were falling.
14. IndusInd Bank, Kotak Bank and HDFC Bank will be in focus.
15. Auto stocks all did well yesterday except Tata Motors.
16. Tata Motors fell due to retrenchment in UK in JLR plant.
17. Consolidation for a day or two will be good for Option writers.
18. Nifty future may trade between 10480 and 10580.