Pre Market Report, May 5, 2014 | Stocks and Commodities

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May 5, 2014
Time: 9 am

Pre Market Report:

1. Russia-Ukraine problem escalated during the week end.
2. US markets were down last Friday.
3. China Manufacturing PMI came lower at 48.1 Vs expected 48.4.
4. SGX Nifty is trading almost flat compared to Friday's close here.
5. Only positive is FII buying.
6. So another day of volatility.
7. Since the markets are down for 5 days in a row, short covering may happen anytime.
8. Also the downside will be limited.
9. So markets will be choppy with downward bias.
10. Nifty future should take support at 6680 and resistance will be at 6780.