Pre Market Report, May 9, 2014 | Stocks and Commodities

Sponsored by

May 9, 2014
Time: 8.15 am

Pre Market Report:

1. US markets were volatile, ended mixed.
2. Asian markets are also mixed.
3. SGX Nifty is slightly down.
4. Even in US, IT stocks are dragging the markets down.
5. FIIs have bought for more than 350 Crores after few days of lower buying.
6. There may be short covering towards the end of the day.
7. Traders are expected to square off their positions ahead of weekend and exit poll results on Monday evening.
8. Markets may trade sideways in the first half and towards the end there may be some significant move either side.
9. Most likely, markets will move higher towards the end of the day.
10. After a long time, an IPO listing is happening today, Wonderla is likely to open significantly higher than the issue price. that may add to positive sentiment to some extent.
11. Nifty future should take support at 6650.
12. Resistance will be at 6740.