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

April 8, 2019
Time: 8.20 am

Pre Market Report:

1. US markets closed positive on Friday.
2. US jobs data came at 1.82K, better than expected.
3. Asian markets are mixed.
4. SGX Nifty is almost flat.
5. On Friday there was short covering rally towards the end of the day as expected.
6. Markets may consolidate as there are are no major news flow.
7. On Friday TCS and Infosys both will declare results after the markets close.
8. IIP and CPI Inflation data will also be released on Friday evening.
9. So we can expect some big move only next week.
10. For today, markets will be keenly watching BJP manifesto.
11. Mutual Fund inflow data will also be released in the afternoon.
12. Markets may come under slight selling pressure if there is too much popularism in BJP manifesto.
13. Markets came under selling pressure after hitting all time high.
14. Now started recovering, if Nifty crosses 11760, a lot of technical people will go long.
15. That demand will push Nifty to 11900 to 12000.
16. It may happen on Friday or next week.
17. Global cues also should support the momentum.
18. Any announcement regarding US-China trade deal will help to push the markets higher.
19. April being a 4 week month, with 2 public holidays next week, there are only 12 more trading sessions.
20. So option premiums may not be good and those who have sold earlier can expect faster depreciation.
21. Crude oil trading above US$70 is a concern for India.
22. Rupee may depreciate slightly due to the crude prices.
23. PSU Banks did badly on Friday.
24. We have to see if there is any recovery in PSU Banks.
25. Nifty future may trade between 11720 and 11820.