Pre Market Report, January 6, 2015 | Stocks and Commodities

January 6, 2015
Time: 8.45 am

Pre Market Report:

1. European markets fell more than 3% as oil continued to slide by more than 6%.
2. German inflation data came lower than expected and that added fuel to the fire.
3. ECB is likely to go for huge stimulus and that will bring Euro further down.
4. Though drastic fall in oil is very good for India, whether the price is passed on to the customer or not, it will have short term effect in our markets.
5. Asian markets are all down.
6. SGX Nifty is trading around 8360, about 60 points lower.
7. Resumption of FII buying may limit the downside for our markets.
8. Also when the markets fall like this, the bottom may be somewhere near.
9. After falling so much in one day, the next day short sellers may not be active.
10. So Europe and US may recover a bit by today.
11. Sectors to watch: Commercial vehicles (Tata Motors, Ashok Leyland)
12. Nifty future support is at 8320
13. Resistance will be at 8420.