Pre Market Report, May 21, 2014 | Stocks and Commodities

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May 21, 2014
Time: 8.30 am

Pre Market Report:

1. US markets fell.
2. But the impact is moderate in Asia.
3. In US, it is mainly profit booking in small cap stocks that moved much higher.
4. So basically there is nothing wrong.
5. That is why the impact is moderate in Asia.
6. Also Russia is pulling back the troops from Ukraine border (though not confirmed by Ukraine) is a positive news.
7. SGX Nifty is trading higher by about 20 points.
8. Markets are likely to consolidate further with high volatility.
9. Markets will eventually break out next week or this Friday if traders want to preempt.
10. However, if Nifty future trades firmly above 7320, then it will try to test 7380 today or tomorrow.