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

November 20, 2014
Time: 8.40 am

Pre Market Report:

1. US markets were down marginally.
2. But yesterday FIIs are net buyers in cash market.
3. Markets fell as DIIs sold more than what FIIs bought, also traders booked profit as FIIs sold previous day.
4. Markets may not continue to fall as there are no negative cues.
5. VIX was just marginally up, this does not indicate big fall.
6. In fact premiums of 8150 put and below fell.
7. HSBC manufacturing PMI came lower at 50.
8. This is the exact mid point between expansion and contraction.
9. This is bad news for China and for commodities.
10. Nifty future should take support at 8380.
11. Resistance will be at 8470.