Pre Market Report, February 1, 2019 | Stocks and Commodities

February 1, 2019
Time: 8.40 am

Pre Market Report:

1. In two days markets fell from 10950 to 10600.
2. In the next two days, shot up by short covering.
3. Everytime Nifty crosses 10900, Bulls are jumping.
4. Everytime Nifty breaks 10600, Bears are jumping.
5. But market seems to be in Bunny cycle.
6. SGX Nifty is trading around 10900.
7. Asian markets are mostly positive marginally.
8. Today we can expect markets to be volatile due to budget.
9. We will start positive for two reasons, one Febrary premium was very low at the close, two, FIIs have bought for more than 3000 crores in CAsh market.
10. This is the first significant buy figure by FIIs in 2019.
11. That too it is happening just before budget.
12. This shows that the money came in yesterday is not a hot money.
13. Only people with long term view will dare to enter the markets ahead of key event like budget.
14. Momentm invetors will wait for the event to play out.
15. FIIs were net buyers in Cash market as well as F&O market.
16. But DIIs have sold heavily.
17. Market will break ot this time?
18. Only budget outcome will decide that.
19. Since we have hugely under performed rest of the markets, we may move significantly higher once this bugdte event is over and it there is no negative implications due to budget.
20. Let us hope for the best.
21. Nifty future may trade in a wide range due to Budget, between 10800-11000.