Pre Market Report, August 27, 2014 | Stocks and Commodities

August 27, 2014
Time: 8.30 am

Pre Market Report:

1. US markets closed positive.
2. Most Asian markets are up.
3. SGX Nifty is trading about 30 points higher than yesterday's close here.
4. Close to 1 crore open interest is there at 8000 Call option.
5. So Nifty is likely to trade between 7880 and 8000 for today and tomorrow.
6. Firm global cues and FII buying in cash market will limit the downside.
7. However, ahead of GDP data on Friday and Supreme Court ruling on Coal on Monday, Nifty is unlikely to go beyond 8020 by tomorrow.
8. But we can not say anything sure as most bullish trade happens just before this kind of key events.
9. Once again markets will be choppy with positive bias.
10. Nifty future is likely to trade between 7920 and 7980 today.