Pre Market Report, March 19, 2021 | Stocks and Commodities

 March 19, 2021

Time: 8 am

Pre Market Report:

1. The Euphoria about Fed policy died just within a day.
2. US markets fell.
3. Asian markets are mostly down.
4. SGX Nifty is down by about 70 points.
5. Yesterday was a difficult expiry.
6. Bank Nifty has made more than 1000 points move many times in March series.
7. On Feb 26, first trading session of March series, Nifty future took support around 14500.
8. Yesterday also Nifty future took support around same level.
9. Today we can expect that level to be broken.
10. However SGX Nifty low was 14450 on Feb 26.
11. Markets are falling like this expecting FIIs to sell.
12. But so far, FIIs did not sell much.
13. If they start selling, then markets will see first significant correction of more than 10% after Corona fall.
14. But what is surprising, even after 900 points fall in Nifty, within few days, India VIX did not shoot up.
15. Reliance has been particularly weak.
16. Reliance has corrected about 10% in last two weeks.
17. PSU BAnks are doing badly.
18. Markets are falling drastically without any Institutional seeling in Cash market.
19. Our markets fell yesterday so much against the Global trend.
20. Today Global cues are bad.
21. Crude fell about 7%.
22. So the volatility is extending to commodities also.
23. Crypto is the only star performer, surprisingly.
24. SGX Nifty broke 14500 while writing this blog.
25. DIIs still keep selling, at some point they will turn net buyers.
26. Then only markets will bottom out.
27. Until then this market is clearly "Sell on Rise" market.
28. Everything looks bad, sometimes, markets bottom out when everything looks bad.
29. When markets are down, people look for negative news, that is why now people talking about Corona virus surge.
30. Nifty future may trade between 14420 and 14620.