Pre Market Report, September 24, 2014 | Stocks and Commodities

September 24, 2014
Time: 7.30 am

Pre Market Report:

1. US markets closed in Red due to Syria news.
2. Most Asian markets are down but only marginally.
3. Panic seems to have subsided in Asian markets.
4. SGX Nifty is trading at 8025.
5. If the markets stabilise then Nifty will move up by 30 to 40 points by short covering.
6. If 8000 is broken then there will be more panic.
7. But not everything is bad.
8. Despite the Syria news, Brent Crude is trading lower.
9. That is a good news for India.
10. Since FIIs did not make any good buying in the last few days and since they have sold for Rs 1185 crores yesterday, there may not be any incremental selling going forward.
11. Nifty is likely to trade between 7960 and 8080.
12. Expiry is likely between 7900 and 8100.

Note: I am writing this report so early as I am going to SUn TV for Varthaga Ulagam program.