Pre Market Report, March 1, 2021 | Stocks and Commodities

 March 1, 2021

Time: 8 am

Pre Market Report:

1. Asian markets are higher.
2. Dow fell more than 400 points on Friday.
3. Despite such a big fall, VIX fell there.
4. Johnson and Johnson vaccine approval, US Stimulus bill passed in House are some positive news.
5. US Futures and European Futures are also higher.
6. SGX Nifty is trading around 14750.
7. That is a big gap up of more than 200 points.
8. On Friday Huge gap down created problem for Put sellers.
9. Today Huge gap up will create problem for Call sellers.
10. Though most banking stocks fell 5% on Friday, both HDFC Bank ADR and ICICI Bank ADR fell only 3% in US.
11. So Banking and Finanacial stocks may open gap up of 2% and may sustain the gap up.
12. We can expect DIIs to become active as markets have fallen.
13. On Friday, FIIs have sold for Rs 8300 crores.
14. But DIIs have bought for Rs 1500 crores.
15. Crude, Gold have rebounded from lows.
16. China PMI came lower than expected, below 51.
17. Still above 50 indicates Economic Expansion.
18. Today around 10.30 am, we can expect our Manufactuting PMI data.
19. Around same time, we can expect monthly auto sales data from Maruti.
20. On Friday, even at 3 pm, Nifty future was above 14700.
21. In the last half an hour, Nifty future fell from 14700 to 14500.
22. So 14700 is an important level to watch.
23. If markets sustain above 14700, there may be a further rally towards the end of the day.
24. As I stated earlier, Nifty 14000 will be a good support.
25. I am keeping away from predicting a range today as markets make big move.