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

November 24, 2014
Time: 8.45 am

Pre Market Report:

1. US markets closed at all time high again.
2. Asian markets are firm.
3. China cut interest rates after their markets closed on Friday, so China, Hong Kong and Singapore markets are doing very well.
4. Note: Many China stocks are listed in Hong Kong and Singapore, so these markets go up when some thing good happens in China.
5. Due to China factor, under performing sectors like metals may do well.
6. SGX Nifty is trading more than 50 points higher.
7. On Friday, many technical traders have gone short.
8. They thought that there will be stiff resistance at 8500.
9. So these traders will have to cover their shorts today.
10. So markets will move at the open, then it may settle down, once all short sellers cover their positions.
11. One important thing to note is that both FIIs and DIIs did not buy significantly on Friday in cash market.
12. But some times Nifty can swing 200 points without any institutional participation.
13. Nifty future is likely to trade between 8480 and 8580.