Pre Market Report, April 16, 2014 | Stocks and Commodities

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April 16, 2014
Time: 8.30 am

Pre Market Report:

1. US markets fell drastically in the first half and then rose in the second half to close positive.
2. Asian stocks are mostly higher.
3. China GDP data came at 7.4 against the expectation of 7.3.
4. Yet China market is trading negative.
5. In fact China markets are trading around this level of 2100 for the last 6 years.
6. So only in the short term these things will affect to global sentiment.
7. SGX Nifty is trading flat.
8. Two days in row, FIIs have sold in cash market.
9. Huge shorts are created in the F&O segment.
10. When there is some positive news, these shorts will have to cover and markets will rise again.
11. There are no big event risks for the next few days.
12. Banking and IT stocks will be in focus as companies from these two sectors start announcing Q4 results.
13. Today TCS will declare results after the markets close.
14. Today Indus Ind Bank will declare results during the market hours, that will decide the trend in Bank Nifty.
15. Nifty future should take support at 6720.
16. Resistance will be at 6780.