Pre Market Report, February 6, 2019 | Stocks and Commodities

February 6, 2019
Time: 8.15

Pre Market Report:

1. US markets closed higher.
2. Asian markets are positive.
3. SGX Nifty is trading above 11000.
4. Though markets were volatile, for the first time in February series, Nifty future traded above 10900 whole day yesterday.
5. FIIs are turning buyers slowly.
6. Everyone in the market seems to be bearish.
7. That is the only reason why I am bullish but bullish only on index.
8. Only few stocks are holding the index.
9. Midcaps are bleeding.
10. More than 100 F&O stocks are trading lower than the price at which they were trading when Nifty was at 9000.
11. Portfolios are bleeding.
12. Things are not going to change very soon.
13. Now the big question, will the markets crash or shoot up?
14. Remember in 2008, markets fell from January 2008 to October 2008, then only the big crash came.
15. At the same time, big shoot up came in 2009 when markets were sold heavily.
16. So anything can happen now.
17. Probably we will be very sluggish until election and just after election the big move may come.
18. Whether that is going to be on the upside or downside, that is a billion dollar question.
19. I believe that it will be on the higher side.
20. For the long positions I am holding, I sold enough Call options and keeping 10813 (spot) as stop loss.
21. Yesterday BHEL fell 10% after results.
22. This kind of 10, 20, 30% fall in one or the other stocks everyday was seen only in 2008.
23. But this time we are falling without Global cues.
24. Other world markets are doing well.
25. Nifty future may take support at yesterday's low.
26. Resistance will be around 11050.
27. Bank Nifty will be volatile ahead of RBI policy tomorrow.