Premarket Report, February 7, 2014 | Stocks and Commodities

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February 7, 2014
Time: 8.30 am

Premarket Report:

1. Dow rose finally by triple digits.
2. Most Asian markets are up.
3. SGX Nifty is trading at 6100.
4. Once Nifty future trades firmly above 6100, we can assume that the market has botommed out.
5. Again, unemployment report from US is a very important news that can make the markets move significantly.
6. As we have been reporting, this time the problem is for other emerging economies, not for India.
7. So in the medium to long term, India is better placed due to its lower CAD.
8. Rupee has been strong throughout this problem period, unlike last year May fall. 
9. FII selling seems to have slowed down.
10. Nifty support is at 6020 and resistance will at 6120.