Pre Market Report, February 4, 2019 | Stocks and Commodities

February 4, 2019
Time: 8.15 am

Pre Market Report:

1. Asian markets are generally positive.
2. Many markets are closed for Chinese New Year.
3. But SGX Nifty is trading about 20 points lower.
4. Today another big fall, likely to be more than 10% fall, in ADAG Stocks.
5. RCom is filing for bankruptcy.
6. That is a big negative for ADAG Stocks.
7. Expect at least 10% fall in all ADAG stocks and more than 25% fall in RCom.
8. PC Jeweller, Vakrange, ICICI Bank, YES Bank, Sun Pharma, Manapasand, DHFL, IL&Fs, Essar, Gitanjali Gems, Videocon, Vedanta, the list continues and now ADAG.
9. Indian stock markets are going through one of the toughest period.
10. Budget did not bring any good news for stocks.
11. Nifty was up and Bank Nifty was down.
12. FIIs however net buyers in Cash market for the last two trading sessions.
13. They have bought for more than 4000 crores in the last 2 trading sessions.
14. Crude is up by 3% and that is also not good for us.
15. Now the focus will turn to RBI policy on Thursday.
16. Now our market is turning out to be a stock specific market.
17. Titan hit 52 week high ahead of results and it came out with good results on Friday.
18. Reliance is at swing high which is likely to continue.
19. I am holding some long positions in Nifty which I will exit if Nifty future breaks 10800.
20. US and European futures are slightly in Green.
21. It looks like Nifty will be trading between 10500 and 11000 in February also.
22. Markets are struggling to breakout despite huge support from FIIs in the last two days.
23. That shows the weakness in the market set up.
24. Highest OI is at 11000CE among Calls in Nifty and highest OI is at 10700PE among puts.
25. Today Nifty future may trade between 10860 and 10960.