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

March 5, 2019
Time: 8.30 am

Pre Market Report:

1. US markets closed lower despite the news that US China trade agreement is very near.
2. US-China Trade agreement may be signed on march 27, according to some reports.
3. Following US markets, Asian markets are mostly down.
4. SGX Nifty fell suddenly yesterday morning itself while all Asian markets were positive.
5. That was puzzling.
6. One possible reason is that China A shares weightage will be increased to 20% from 5% in MSCI Asia Pacific index.
7. That can lead to some selling in Indian markets and buying in China markets.
8. Now SGX Nifty is trading about 80 points lower.
9. On Friday both FIIS and DIIs were net buyers in Cash market.
10. Auto sales figures were not impressive and most of the Auto stocks may fall today.
11. Asian markets are down but compared to yesterday's rise, the fall is much less.
12. SO we may recover in the afternoon after falling in the morning.
13. Trump threatening tariff hike for Indian exports may be sentimentally negative.
14. But it affects only about 10% of our exports and none of the affected products is in the listed space.
15. There was huge premium in both Nifty and Bank Nifty futures on Thursday and Friday.
16. That may get corrected now.
17. Election commission is likely to announce election dates this week.
18. Once again Nifty is trying to trade closer to 10800. That is what has been happening for the last many months.
19. People who have done "Short Straddle" have been making good money.
20. I also did Bank Nifty 27000 Short Straddle and Nifty 10800 Short Straddle.
21. Nifty future may take support at 10820.
22. Resistance may come at Friday's high.