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

October 16, 2014
Time: 8.30 am

Pre Market Report:

1. Panic gripped US markets yesterday, Dow fell more than 450 points, Nasdaq fell more than 100 points, before recovering in the last two hours of trading.
2. Weak Europen markets, weak economic data and more importantly Ebola scare all contributed to the worst downfall in the recent years.
3. Despite such a severe blow, our markets are not likely to fall significantly.
4. Brent crude is trading below US$84.
5. Inflation is very low, below RBI target.
6. Exit polls say that BJP will either get majority in both Maharastra and Haryana or will be the largest party.
7. SGX Nifty is trading around 7880, just about 20 points lower than Tuesday's close here.
8. Markets are likely to be choppy but will trade within a range.
9. Europe is likely to open higher today after closing at 52 week low yesterday.
10. Nifty future is likely to take support at Tuesday's low of 7445.
11. Resistance will be at Tuesday's high of 7952.