Pre Market Report, February 5, 2019 | Stocks and Commodities

February 5, 2019
Time: 8.10 am

Pre Market Report:

1. US markets closed higher as Technology stocks did well.
2. Many Asian markets are closed due to Chinese New Year.
3. Markets which are open are trading in Green.
4. After market close, Google came out with results which are in line with expectation, but stock is slightly down in after market trades.
5. SGX Nifty was volatile, after opening around 10920, now trading above 10960.
6. Yesterday both FIIs and DIIs were net sellers in Cash market but the figure is too low to be significant.
7. Yesterday Nifty future broke Budget day low but recovered more than 120 points from day's low.
8. Reliance is close to all time high.
9. IT stocks doing very well.
10. Beyond that there is nothing good.
11. Broader markets are bleeding.
12. Rupee fell more than 50 paise, crude was up, both went against our markets.
13. Today there are many corporate results due.
14. TechM, ACC, GAIL, BHEL are some of them.
15. Yesterday Nifty future broke Budget day low.
16. That was a bad news for bulls.
17. But Nifty future recovered from that low and shot up more than 120 points from day's low.
18. And that was a good news for bulls.
19. I am holding long positions.
20. I bought 11000PE in March and sold 2X10600PE so that my longs are protected until 10600.
21. Still I feel 10600, the swing low, will not be broken.
22. Anyway I will exit my long positions if Nifty future breaks 10800.
23. Bank Nifty is highly volatile.
24. It is likely to be that way until this Thursday.
25. Nifty future may trade between 10880  and 11020.