Pre Market Report, September 19, 2014 | Stocks and Commodities

September 19, 2014
Time: 8.30 am

Pre Market Report:

1. US markets closed at record high once again.
2. Alibaba highly successful public issue will add to the positive sentiment.
3. Alibaba, a Chinese e-commerce company came out with a public issue of US$22 billion, highest ever public issue.
4. Most Asian markets are trading with positive bias.
5. Our markets should consolidate.
6. If there is any rise, then it will be met with selling.
7. Markets can not rise significantly in the absence of institutional buying.
8. There may be some selling pressure towards the end of the day.
9. Traders will like to close their long positions ahead of weekend holidays.
10. Also due to absence of institutional buying, some longs will be cut.
11. Today Nifty future should take support at 8080.
12. Resistance will be at 8180.