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

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June 9, 2014
Time: 8.55 am

Pre Market Report:

1. Once again, US markets closed at record high on Friday.
2. Once again, Asian markets are mostly up and trading at multi year highs.
3. SGX Nifty is trading about half a percent higher.
4. FII buying was also huge on Friday.
5. So everything look bullish.
6. However some people who are sitting with huge profit will look for this kind of market conditions to book profit.
7. So profit booking may set in any time.
8. That is why we always say it is difficult to make money in bull market, it is easier to make money in bear market.
9. Nifty future should take support at 7580 and resistance will be at 6680.
10. Since the markets rose significantly in the last few sessions, it will be good if markets consolidates for few more trading sessions.