Pre Market Report, May 10, 2018 | Stocks and Commodities

May 10, 2018
Time: 8.45 am

Pre Market Report:

1. US markets were up. Energy stocks contributed to the rally.
2. Most Asian markets are higher.
3. SGX Nifty is almost flat.
4. Crude prices are scaling new highs and that is not good for India.
5. But people think this is only temporary.
6. Focus is shifting to KTK election.
7. Irrespective of markets movement, India VIX keep rising.
8. And that was expected.
9. Even today and tomorrow, it is likely to move higher.
10. But on Monday and Tuesday, India VIX will head down.
11. Today Bank Nifty weekly expiry.
12. That will bring volatility to Banking stocks.
13. Will be interesting how Bank Nifty performs in the last one hour.
14. Yesterday Corporate lenders fell and Retail lenders were up.
15. IT stocks were also up yesterday.
16. TCS finding huge resistance at 3500.
17. Auto stocks also did slightly better.
18. Markets are not expecting any big moves due to KTK election.
19. I feel that there can be a maximum of 3% move on either side.
20. Nifty future is likely to trade between 10720 and 10820.