Pre Market Report, April 8, 2018 | Stocks and Commodities

April 8, 2018
Time: 8.40 am

Pre Market Report:

1. US markets went for free fall on Friday.
2. That is because Trump tweeted against China.
3. Yesterday night, he tweeted some positive tweet.
4. So Asian markets are not falling.
5. But SGX Nifty has been volatile.
6. It traded between 10270 and 10400 after we closed on Friday.
7. That is a huge swing.
8. Now it is trading between 10300 and 10320 may be due to less volume.
9. RBI allowed foreigners to buy Rs 59000 crore worth of more bonds this year.
10. That is a good news for Banking stocks.
11. Particularly good for PSU Banks.
12. So Bank Nifty out performance may continue.
13. Remember Bank Nifty had been under performing before RBI policy.
14. FIIs were net sellers in Cash market but DIIs have bought much more than what FIIs have sold.
15. But now all these data are not important, what Trump is going to tweet is more important.
16. Tomorrow it is time for China to speak, President Xi is expected to make some comments tomorrow.
17. So markets may be volatile for another two to three days.
18. Underlying current is bullish. Once this Trade War news subsides, markets may move higher.
19. Good Monsoon forecast, Good Corporate Results both from India and US will drive the markets higher in the last two weeks of April.
20. Nifty future may trade between 10280 and 10400.