Pre Market Report, February 26, 2019 | Stocks and Commodities

February 26, 2019
Time: 8.20 am

Pre Market Report:

1. Multiple IAF jets crossed the LoC.
2. This is the first time multiple jets crossed LoC.
3. There was a huge blast at Balakot area.
4. SGX Nifty has fallen by 60 points after this news.
5. Crude is down, Global cues are good and all IAF jets returned safely after the attact are the positive news.
6. However people still remember Surgical strike day when Nifty fell 200 points within few minutes.
7. Rupee is likely to open lower.
8. Yesterday Bank Nifty shot up nearly 300 points mainly by HDFC Bank.
9. Yesterday markets went up without the support of Reliance.
10. Maximum contribution came from TCS and Infosys.
11. While writing the blog, SGX Nifty is falling further, now trading at 10790.
12. One good thing is that the news of attack has come much before markets open.
13. There will not be knee jerk reaction like what happened in 2016 September.
14. Surgical strike news came on Thursday 11 am in 2016 and Nifty fell 200 points suddendly.
15. If I am not wrong Nifty will close above day before yesterday's close.
16. Means we may lose what we gained yesterday, not more than that.
17. But there will be some knee jerk reaction in the morning, at least for first haf an hour.
18. Markets are likely to be volatile, so better not to trade until markets settles down.
19. India VIX is likely to shoot up.
20. Nifty future is likely to take support at 10780.
21. Resistance will at yesterday's high.