Pre Market Report, March 28, 2014 | Stocks and Commodities

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March 28, 2014
Time: 8.15 am

Pre Market Report:

1. US markets ended marginally lower.
2. But most Asian markets are marginally up.
3. SGX Nifty is trading at 6715.
4. IT, Pharma, FMCG falling.
5. Banks, Auto, Realty (despite very bad picture at the ground level for realty), Infrastructure stocks are shooting up.
6. So this is a clear sign of bull market.
7. We always tell, it is is difficult to make money in bull market than bear market.
8. Yesterday afternoon, within few minutes, banking stocks fell like anything.
9. This is the nature of bull market.
10. When the selling comes it will be very fast.
11. Pre election rally has actually happened, as Nifty from below 6000 shot up to more than 6600 in less than a month.
12. So April series may not be that bullish.
13. We will discuss this in our 'April outlook'.
14. For today, Nifty future should take support at 6680.
15. Resistance will be at 6740.
16. Banks are likely to rise further.