Pre Market Report, May 4, 2018 | Stocks and Commodities

May 4, 2018
Time: 8.55 am

Pre Market Report:

1. US markets closed mixed after a huge volatile session.
2. Dow fell more than 400 points and wiped out all losses at the end of the day.
3. But Asian markets are mostly negative.
4. Yesterday both FIIs and DIIs were net sellers.
5. FIIs were not bullish in F&O also.
6. So markets may not make a big move until after Karnataka Election results.
7. But Volatility may start moving higher.
8. Hong Seng fell more than 400 points yesterday and fell another 300 points today morning.
9. That is the reflection of US-China trade talks.
10. SO the trade set up is not bullish.
11. But buying may emerge at the lower levels.
12. ICICI Bank may be in focus ahead of its results on Monday.
13. Today last one hour of trading is very important.
14. US jobs data, US-China Trade talk outcome are the two key events at the end of the day.
15. US markets are likely to react violently for the out come.
16. So SGX Nifty will also be reacting violently today evening.
17. Though Nifty future recovered from day's low yesterday, breaking 10680 was not a good sign.
18. Recovery was mainly due to Bank Nifty weekly expiry.
19. Midcaps are under performing.
20. Nifty future may trade between 10620 and 10740.