Pre Market Report, April 18, 2018 | Stocks and Commodities

April 18, 2018
Time: 8.45 am

Pre Market Report:

1. US markets closed higher, wiping out all the losses made in 2018.
2. Nasdaq shot up due to stellar results from Netflix.
3. Netflix shot up by 9% boosting the indices.
4. SGX Nifty hit a high of 10621.
5. But later Hong Kong and China markets started trading in red, after opening in green.
6. Now SGX Nifty is trading between 10580 and 10590.
7. Nifty closed in Green for 9 consecutive days.
8. Today, if everything goes well, it will be the tenth positive close.
9. Today Hong Kong is falling for third day and we are rising for third day.
10. But markets are giving intraday corrections.
11. Any intraday fall of more than 50, 60 points in Nifty, then it is time to go wrong.
12. If Bank Nifty falls 150 to 200 points intraday, then it is time to go long.
13. I did a number of intraday trades following this strategy.
14. Made lot of money in Bank Nifty intraday trade.
15. Nifty is coming to resistance zone just ahead of results season.
16. If corporate results are good, then the resistance will be broken.
17. In that case Nifty will head towards 10800, a Fibonacci Retracement level.
18. HDFC Bank, ICICI Bank, Kotak Bank, Reliance, ITC are the key stocks to watch.
19. Nifty future may trade between 10520 and 10620.