Pre Market Report, December 10, 2014 | Stocks and Commodities

December 10, 2014
Time: 8.10 am

Pre Market Report:

1. US markets closed mixed after falling drastically in the first half of the trading sessions.
2. Later recovered dramatically and Nasdaq ended positive.
3. But the sentiment in Asia is still very bad.
4. Yesterday intraday fall of 8% in China markets and more than 12% fall in Greece markets are creating fear among the traders.
5. So SGX Nifty is trading around 8350 about 40 points lower.
6. The vertical fall in three days will wipe out many unprofessional traders out of market.
7. Though the next major support for Nifty is at 8200, it should not fall vertically towards that level.
8. Markets will rise once before falling again.
9. Today's inflation data from China is not helping the markets anyway.
10. Nifty future should take support at 8320 in today's trade.
11. For the last two days my forecast failed.
12. Let us see what happens today.
13. Resistance will be at 8420.
14. Infosys founders selling shares worth 6500 crores, China crash, Greece crash, what is today?
15. Let us hope no more bad news and markets stabilise around this level.