Pre Market Report, May 2, 2014 | Stocks and Commodities

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May 2, 2014
Time: 8.40 am

Pre Market Report:

1. Most Asian markets are up.
2. Day before yesterday, DOW closed at all time high and yesterday it was down slightly.
3. SGX Nifty was down yesterday, but trading around 6750 now.
4. Markets fell in all three days of this week.
5. Markets fell with huge volatility both on Tuesday and Wednesday.
6. So there may be some short covering today, either in the first one hour of trade or in the last one hour of trade.
7. We will not be surprised if Nifty future touches 6800 in today's trade.
8. Though everybody is talking of high volatility and huge swings, markets are not likely to follow their view.
9. Markets are likely to rise ahead of election results, as the correction seems to be over.
10. Today Nifty future is likely to trade between 6700 and 6800.