Pre Market Report, March 6, 2014 | Stocks and Commodities

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March 6, 2014
Time: 8.15 am

Pre Market Report:

1. US markets ended mixed, Dow down, Nasdaq up and S&P 500 flat.
2. Asian markets are up except China.
3. SGX Nifty is trading around 6380 due to positive global sentiment and continued FII buying.
4. CAD at 8 year low is a very positive news for India.
5. The range 6380 to 6420 is a very important resistance zone.
6. PSU Banking stocks are rising in the last two trading sessions.
7. This shows that it is not momentum traders who are taking the markets up.
8. It is the long term value investors who are taking the markets up.
9. So the possibility of this rally fizzling out is very less.
10. Today's resistance for Nifty future is at 6420, support is at 6360.