Pre Market Report, May 28, 2014 | Stocks and Commodities

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May 28, 2014
Time: 8.50 am

Pre Market Report:

1. US markets were up yesterday.
2. Most Asian markets are up.
3. SGX Nifty is slightly up, trading around 7315.
4. FIIs have shorted in F&O segment to the tune of Rs 1270 crores yesterday.
5. Raghuram Rajan will continue as RBI Chairman and that is a good new for financial markets.
6. Markets expected Arun Jaitley as Finance Minister and that has happened.
7. Yet the markets fell and that is to be seen as a correction.
8. Markets are not likely to fall significantly from here.
9. Any short covering will lift the markets beyond 7400.
10. But that may not happen today, may happen tomorrow.
11. Today Nifty should take support at yesterday's low.
12. Resistance will around 7380.