Pre Market Report, May 26, 2014 | Stocks and Commodities

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May 26, 2014
Time: 7.50 am

Pre Market Report:

1. US markets were up last Friday.
2. Most Asian markets are up.
3. SGX Nifty is trading around 7410.
4. Strong FII buy figure on Friday will make sure that markets do not correct today beyond 20 to 25 points in Nifty.
5. So Nifty future could find support at 7380-7370 evels.
6. There will be lot of news flow regardingCabinet formation and that might lift the sentiment on the higher side.
7. The resistance will be at 7450 levels.
8. We maintain our view that Nifty might expire between 7400 and 7500 this week.
9. But markets may be volatile due to expiry related issues.
10. SBI will be in focus after a huge rise of 10% on Friday.