Pre Market Report, June 10, 2014 | Stocks and Commodities

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June 10, 2014
Time: 8.45 am

Pre Market Report:

1. US markets closed once again at record high.
2. Most Asian markets are positive though marginally.
3. SGX Nifty is also trading flat.
4. Continued FII buying in cash market and positive news flow like FII investing 1.5 billion in ETF (highest among emerging markets) likely to keep markets firm.
5. However since the markets rose too fast some kind of profit booking is expected.
6. Or at least consolidation is expected for next few days.
7. IIP data and Inflation data on Thursday will be the next small trigger.
8. L&T will be in focus today due to their fund raising program.
9. Banking stocks are underperformed yesterday.
10. Correction, if any, will be lead by Banking and Realty stocks.
11. Nifty future will find support at 7620 and resistance will be at 7700.