Pre Market Report, March 20, 2014 | Stocks and Commodities

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March 20, 2014
Time: 8.40 am

Pre Market Report:

1. Fed reduced the bond buying by another 10 billion.
2. But Fed Chairman's comment spooked the markets and DOWfell more than 200 points at one point of time.
3. But recovered and closed about 122 points lower.
4. SO the reaction was only modest as US markets rose in the last two days.
5. Asia reaction is also modest.
6. SGX Nifty is trading around 6525.
7. So it will be another day of consolidation.
8. On March 7, Nifty closed at 6526, yesterday it closed at 6524.
9. This is after 7 trading sessions.
10. Nifty future should find support at 6500.
11. Resistance will be at 6580.