Pre Market Report, February 8, 2019 | Stocks and Commodities

February 8, 2019
Time: 8.20 am

Pre Market Report:

1. US markets closed lower after a news report that said Trump will not be meeting President Xi Jinping by the end of this month.
2. So Asian markets are also weak.
3. But since we have under performed other markets by 10% in January, we may not fall in tandem with Global markets.
4. Moreover, despite such a huge volatility, FIIs were net buyers in Cash market as well as Index futures and stock futures.
5. Crude price has come down and that is also a good news for us.
6. But everyday one of the other F&O stocks falling more than 10%.
7. Rel Infra fell 60% in 2 days.
8. My friend @trendmyfriends shorted Rel Infra and was very happy.
9. Tata Motors declared Rs 27000 Crore loss, ADR is down by 11%.
10. So today we can expect one more capitulation.
11. More and more companies are shocking investors.
12. This is one of the famous bipolar market where some stocks keep going higher and some stock keep going lower.
13. Markets may continue to be like this for next few months.
14. Whether there will be a pre election rally or not? That is the billion dollar question now.
15. Now the RBI policy is out of the way, Global cues may influence our markets now.
16. Next big news is US Govt shutdown deadline of Feb 15.
17. But any dip is a buying idea now.
18. Any dip towards 11000 can be bought with a stop loss of 10980.
19. Yesterday Midcaps out performed large caps.
20. That may continue for next few days.
21. We have bad Global cues but Good Institutional buy figures.
22. So SGX Nifty is confused.
23. We may consolidate for few more days between 11000 and 11150.
24. Auto stocks are doing well except Tata Motors.
25. Nifty future may trade between 11020 and 11150.