Pre Market Report, April 2, 2018 | Stocks and Commodities

April 2, 2018
Time: 8.45 am

Pre Market Report:

1. Happy New Financial Year for my readers.
2. We are beginning the NY with some optimism.
3. February and March were very volatile.
4. Hope this month things change.
5. There are some indications for that already.
6. US Trade War fear is fading, Auto sales are good, China Manufacturing PMI is good, Monsoon forecast is good, Corporate Results are likely to be good, etc.
7. At the same time, news like ICICI and Axis make people to believe that we are not out of the woods yet.
8.  Bank Nifty will be in focus due to this ICICI and Axis News.
9. Economic Indicators are showing positive trend, in March also Commercial Vehicles sales have been very strong.
10. We will also get Manufacturing PMI data today.
11. FIIs are not turning very bearish.
12. In F&O, there positions are at low.
13. Usually markets surprise us positively when FII holding in F&O is very low.
14. This is due to the reason that markets are designed to reward minority, not majority people.
15. I feel that April will be trading between 10000 and 10600 with positive bias.
16. First resistance will be 10300. Next resistance will be at 10600.
17. Bank Nifty may under perform due to news flow.
18. That may be corrected if some corporate results are good.
19. Global cues are good.
20. Nifty future may trade between 10180 and 10280.