Pre Market Report, September 16, 2014 | Stocks and Commodities

September 16, 2014
Time: 8.45 am

Pre Market Report:

1. Yesterday, I could not write "Post Market Report" as I was too busy with other works.
2. Yesterday markets moved as expected.
3. First, though Nifty fell, Bank Nifty did not fall as much as Nifty.
4. Second, even within the Banks, PSU Banks out performed private banks.
5. Third, Mid caps and small caps also did not fall as much as Nifty.
6. So these things show that the fall is by F&O people, not by investors.
7. End of the day, both FIIs and DIIs have sold about Rs 75 crores each, which is negligible.
8. Yes Bank fell by 5% as FII limit is reached.
9. So the people follow FIIs and preempt their selling.
10. So in case if FIIs do not sell then these F&O people will cover their shorts and market will recover by short covering after few days.
11. Nasdaq fell as investors sold highly valued shares in order to raise cash to apply in Alibaba Public issue.
12. SGX Nify is trading about 20 points lower.
13. Most Asian markets are trading lower.
14. Markets may trade lower and may recover in the afternoon.
15. Nifty future should take support at 8020 which is very important support.
16. Resistance will be at 8080.