Pre Market Report, March 2, 2021 | Stocks and Commodities

 March 2, 2021

Time: 8 am

Pre Market Report:

1. US markets closed significantly higher.
2. Now everyone seems to have forgotten about intetest rates.
3. Asian markets are mostly higher.
4. SGX Nifty is up nearly 80 points.
5. Day before yesterday, it was a huge gap down and that gap down sustained and fell more.
6. Yesterday it was huge gap up and it sustained and markets moved even higher.
7. Bank Nifty was volatile between 35000 and 35500.
8. Auto sales numbers were not really impressive due to Semi Conductor shortage.
9. And that was expected, but tractor sales seems to be good.
10. Reliance was weak since morning.
11. Manufacturing PMI data came at 57.5 and that is a good figure.
12. GST collection is also at 1.13 lakh crore, thrid stright month of more than Rs 1.1 lakh crore.
13. Except Auto sector, which is struggling with Semi Conductor shortage, all other sectors have good economic indicators.
14. Yesterday India VIX fell by aboutt 10%.
15. It is likely to go down further.
16. US VIX is down by 16.5% yesterday.
17. Feb series also, first day markets fell, but next weeks was very good.
18. Now March series also, first day was very bad, but yesterday and today, markets are really good.
19. FIIs have stopped selling, they bought for Rs 125 crores in Cash market.
20. The next resistance for Nifty is around 15000.
21. Agressively Put options are written.
22. Option premiums have fallen due to fall in VIX.
23. Despite Nifty moving more than 200 points, (short) straddles are in profit.
24. Reliance need to be watched for meaningful upside from now on.
25. Nifty future may trade between 14800 and 14980.