Pre Market Report, April 23, 2018 | Stocks and Commodities

April 23, 2018
Time: 8.45 am

Pre Market Report:

1. US markets closed lower on Friday.
2. Asian markets are mixed.
3. Crude prices refuse to come down despite Trump's warning.
4. Indian Rupee is depreciating.
5. Bond is a problem.
6. There are many positive as well as negative news.
7. RBI Governor spoke bullish about Indian economy.
8. IMF also gave good report about India.
9. North Korea has decided to abandon the nuclear test site.
10. US Treasury Secretary visiting China for Trade talks.
11. So it may be a tug of war between bulls and bears.
12. SGX Nifty is down by about 60 points.
13. But trading higher than yesterday's low.
14. I expect Nifty future to take support at 10520.
15. Any dip towards 10520 is a buying opportunity.
16. We need to see how ICICI Bank will be reacting to SEBI news.
17. We also need to see how HDFC Bank will be reacting to its results.
18. We need to see how the momentum in IT stocks.
19. Markets may open lower but may recover later.
20. European futures are positive, US futures are also positive.
21. So watch for the first one hour low and that should not be broken later in the day.
22. FIIs in F&O are bullish.
23. So we can expect some more consolidation for the next one or two days.
24. Markets have been highly volatile between 10400 and 10600 for the last two weeks.
25. That may continue for few more days.
26. Today Nfty future may trade between 10500 and 10620.