Pre Market Report, April 19, 2018 | Stocks and Commodities

April 19, 2018
Time: 8.30 am

Pre Market Report:

1. Yesterday markets were trading firmly positive.
2. ITC alone, at the peak, contributed 30 points for Nifty.
3. But Banks were not that bullish since morning.
4. Suddenly RBI Deputy Governor's statement about NPA came and banks started falling.
5. Bank Nifty fell almost 400 points intraday.
6. That was a knee jerk reaction.
7. Once our markets closed, US markets traded with positive bias.
8. So SGX Nifty traded higher yesterday night.
9. Now all Asian markets are trading with positive bias.
10. SGX Nifty trading higher than yesterday's high here.
11. But IndusInd bank results,  Weekly expiry of Bank Nifty will make Bank Nifty volatile.
12. FMCG, IT companies doing well, so Nifty is likely to stay firm.
13. I expect Nifty to trade between 10400 and 10700 until the end of this expiry.
14. Bank Nifty is very difficult to predict as key corporate results, IndusInd Bank, HDFC Bank and Axis Bank, will dictate the trend.
15. Auto stocks are likely to be under pressure as Crude oil keeps moving higher.
16. Mindtree and ACC came with better results.
17. If TCS come with better results, then Infosys will also recover.
18. In the last three days, Nifty has been moving higher with good volatility.
19. Today also that may continue.
20. Bank Nifty trend will start after IndusInd bank results which are expected between 12.30 and 1.30 pm.
21. Nifty future may trade between 10520 and 10620.