Pre Market Report, May 22, 2014 | Stocks and Commodities

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May 22, 2014
Time: 8.25 am

Pre Market Report:

1. US markets rose yesterday night.
2. So most Asian markets are up.
3. SGX Nifty is trading around 7310.
4. In the last few days Bank Nifty fell nearly 500 points.
5. So there may be short covering in Banking stocks, if there is a gap up open.
6. Markets are trading in a very narrow range for the last few sessions.
7. This can not continue.
8. Market has to break up or break down.
9. Probability of markets breaking up is high.
10. So go long in every dip.
11. If Nifty future trades firmly above 7320, then next target will be 7380.
12. We expect this expiry between 7400 and 7500.

Note: There will be no pre market report tomorrow as I will be flying from Singapore to Chennai tomorrow morning.