Pre Market Report, April 17, 2014 | Stocks and Commodities

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April 17, 2014
Time: 8.30 am

Pre Market Report:

1. US markets continued to rise for second day supported by positive economic data and corporate results.
2. But Asia reaction is more or less muted.
3. Most Asian markets are up, but marginally.
4. SGX Nifty is trading about 20 points higher.
5. But fading of FII buying and continued aggressive selling by DIIs is a cause for worry.
6. There are only 4 more trading sessions for this expiry including today.
7. Nifty is likely to expire in the range of 6700-6800.
8. Nifty future should trade firmly above 6720 in order to be positive about the markets in the near term.
9. Today Nifty future should find support at around 6680.
10. Resistance will be around 6760.
11. Today is the last trading day of the week, there is a long week end ahead, so traders will like to square off their positions.
12. So afternoon trade will be difficult to predict, but one this is sure, it will be volatile in the second half of the session.