Pre Market Report, December 9, 2014 | Stocks and Commodities

December 9, 2014
Time: 8.40 am

Pre Market Report:

1. US markets closed lower.
2. All Asian markets are down, except China, after a long time.
3. SGX Nifty is trading around 8450.
4. Yesterday Infosys founders have sold shares worth Rs 6500 crores.
5. Institutions buy figure show as Rs 6000 crores.
6. So there is a net sell figure of Rs 500 crores by Institutions.
7. Nifty has been in the uptrend from 7800 levels without even any minor correction.
8. Bears are taking this opportunity to short the markets.
9. Nifty should find a strong support at 8400.
10. Not all are bad, Crude continue to fall which is very good for India in medium to long term.
11. Also RBI will reduce the rates surely in the next meeting.
12. So any correction will have to be seen as buying opportunity.
13. Nifty future is likely to trade between 8420 and 8520 today.