Pre Market Report, May 3, 2018 | Stocks and Commodities

May 3, 2018
Time: 8.55 am

Pre Market Report:

1. US markets fell despite Apple moving more than 4% higher.
2. Fed event has become non event as expected.
3. The news that US is considering ban on some China Telecom products dented the sentiment in the last one hour.
4. Moreover, today US-China trade negotiations begins, this kind of news just ahead of trade talks is not good.
5. That is very well reflected in Hong Kong market.
6. Hong Send has fallen more than 500 points.
7. Japan is closed while most Asian markets are in Red.
8. SGX Nifty is also down by about 40 points.
9. Even yesterday our markets were very weak.
10. Many midcaps fell drastically.
11. Even large caps fell mostly.
12. HDFC Twins, ITC and Kotak Bank pulled the markets higher.
13. If not for these 4 stocks, markets would have fallen drastically.
14. FIIs keep selling in Cash market while DIIs have slowed down their buy.
15. FIIs are neutral in F&O also.
16. Karnataka election is nearing, so Volatility may spike.
17. That can be seen even in yesterday's trade.
18. Bank Nifty options shot up both sides.
19. So it is time to be cautious.
20. Bank Nifty will be volatile due to weekly expiry.
21. Nifty future may take support at 10680.
22. Resistance may come around 10780.