Pre Market Report, March 03, 2021 | Stocks and Commodities

 March 03, 2021

Time: 8 am

Pre Market Report:

1. US markets fell after showing best performance the day before.
2. Nasdaq fell 1.7% and Dow fell 0.5%.
3. People feel the technology stocks valuations are very high.
4. That is why Nasdaq has been under performing.
5. Asian markets are mixed.
6. SGX Nifty is above 15K.
7. Yesterday, in last 30 minutes Nifty shot up 150 points.
8. Bank Nifty shot up more than 300 points.
9. SGX Nifty crossed 15050 yesterday night, but now has colled off.
10. Today is Wednesday.
11. Usually Wednesday trades are highly volatile.
12. But today is the first Wednesday with new SEBI rules of intraday margin of only 1X.
13. We need to see how that helps (or disrupts) the market move.
14. If there is less volume, market can be more volatile.
15. Now Nifty will be entering 15K plus region, DIIs are likely to sell more aggressively.
16. That can make markets more volatile.
17. Yesterday Banks under performed throughout the day.
18. Only in last 30 minutes, Banks recovered.
19. Still Bank Nifty did not take out morning high but Nifty took out morning high.
20. But Bank Nifty is finding good support around 35000.
21. Yesterday buying came as soon as 35000 was broken on the downside.
22. Auto sector will be in focus after a good rally yesterday.
23. Maruti has fallen more than 1300 rupees from recent high.
24. Due to Semiconductor shortage, Autos are under performing in the short term.
25. Taking this opportunity, long term investors must be entering into Auto stocks.
26. Reliance is struggling around 2100.
27. HDFC and HDFC Bank are also struggling.
28. Meaningful upside will come only when HDFc Twins and Reliance out perform.
29. Nifty is likely to find very good support at 14800.
30. Nifty future may trade between 14880 and 15080.