Pre Market Report, October 20, 2014 | Stocks and Commodities

October 20, 2014
Time: 8.35 am

October 20, 2014:

1. MSCI Asia Index is up by 1.6%.
2. SGX Nifty is trading around 7940.
3. So this gap up is equivalent to global gap up.
4. But diesel deregulation, election win by BJP, gas price hike, 90% housing loan all specific to India.
5. So in case of short covering, Nifty future may touch 8000, if not today, by this week.
6. Europe also likely to open positive in the afternoon.
7. US futures are also trading positive.
8. Markets may rise, but volatility will still be there.
9. Tomorrow's trade is very important due to China GDP data and Manufacturing PMI data.
10. Nifty future is likely to trade between 7880 and 8000 today.