Pre Market report, March 23, 2015 | Stocks and Commodities

March 23, 2015
Time: 8.25 am

Pre Market report:

1. US markets closed higher on Friday.
2. Most Asian markets are in Green today.
3. On Friday FIIs have bought for Rs 355 crores in cash market.
4. However DIIs have sold for Rs 219 crores.
5. Despite all these positive things, SGX Nifty is not showing any great improvement.
6. Even defensive sectors like Pharma and FMCG started falling on Friday which is a very bearish sign.
7. Year end factors and Expiry factors are playing out in the markets.
8. So markets are likely to be under pressure in the days to come.
9. ICICI Bank has fallen nearly 20% and still there is delivery based selling.
10. Metal sector will be under pressure, particularly JSPL whose two coal blocks are cancelled.
11. There are no important news flow except Building permits data from US today evening.
12. Markets are expected to trade in a range with high volatility.
13. Nifty future should take support at 8580 and resistance will be at 8680.