Pre Market Report, April 3, 2019 | Stocks and Commodities

April 3, 2019
Time: 7.30 am

Pre Market Report:

1. I am writing this blog much early as I would be travelling in the next one hour.
2. US markets closed mixed yesterday.
3. But Asian markets are positive.
4. SGX Nifty is up just by 5 to 10 points.
5. There is a news report that said most of the differences in the Trade Deal has been ironed out.
6. So we can expect announcement regarding the trade deal.
7. That day markets may spike and that could be the top.
8. All those who are taking long positions might book profit on such a good news.
9. Coming back to our markets, yesterday for most part of the day, it was sideways with slight negative bias.
10. That was mainly due to huge selling that happened on day before yesterday afternoon.
11. But yesterday's afternoon session was exactly opposite to day before yesterday's.
12. There was huge buying in the last 90 minutes.
13. Bank Nifty future premium shot up.
14. Now it is trading at 200 points premium.
15. Even Nifty is trading with good premium.
16. Yesterday's FII buy figures were not that impressive considering the huge surge in the afternoon trade.
17. Markets may be choppy but range bound.
18. Bank Nifty may be volatile ahead of RBI policy.
19. This time premiums are so high as RBI policy comes on Thursday.
20. IV is also high which may come down after RBI policy.
21. SBI shot up, luckily I am holding 5 lots of SBI futures.
22. In fact I went long, first lot at Rs 267 sometimes in the last week of February.
23. Tata Motors is up by 16% in two days, I am holding 3 lots in Futures and 2 lots in Cash. Cash market bought at very high price, at Rs 325.
24. Reliance is consolidating at higher levels.
25. We can expect Nifty future to trade between 10720 and 10840.