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

December 24, 2014
Time: 8 am

Pre Market Report:

1. Dow closed above 18000 after very good GDP data at 5%.
2. But Nasdaq was down as IT stocks under performed.
3. Most Asian markets are firm.
4. But China is down slightly.
5. SGX Nifty is flat at 8270.
6. Markets are likely to be sideways with plus or minus 20 to 30 points until afternoon.
7. Then the expiry related volatility may set in.
8. Bank Nifty is likely to move violently in the afternoon.
9. Parliment session is out, election results are out and now there are no major market moving news for the next few days.
10. Nifty may expire anywhere between 8220 and 8350 a wide range.
11. On September expiry day, Nifty fell more than 100 points and that has to be remembered.
12. Upside seems to be limited as FIIs are selling continuously for the last 11 trading sessions.
13. At the same time downside may also be limited as DIIs are matching the FII selling.
14. So December expiry will be an interesting one.