Pre Market Report, December 17, 2013 | Stocks and Commodities

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December 17, 2013
Time: 8.15 am

Pre Market Report:

1. US markets rose.
2. Thanks to German PMI data that lifted sentiments in Europe and US.
3. As we have reported yesterday evening, Nifty will open gap up by about 40 points.
4. SGX Nifty is trading about 45 points higher.
5. Again Nifty future will face resistance between 6220 and 6240 as traders will not like to initiate positions ahead of two key events.
6. Nifty has already corrected by about 300 points from high.
7. So 25 basis point hike in interest rate and slow tapering by Fed have already been priced in.
8. Anything more severe action will bring markets down.
9. Both Gold and Crude are flat waiting for Fed clues.
10. Markets will be highly volatile and expected to swing widely.
11. So for today and tomorrow we are not giving any recommendation for short term traders.
12. Only those who can take high risk can sell Nifty 6000 Put option and 6500 Call option.