Pre Market Report, April 20, 2015 | Stocks and Commodities

April 20, 2015
Time: 8.45 am

Pre Market Report:

1. China cut reserve ratio for banks by 1%.
2. This positive news keeping Asian markets from falling too much due to US weakness.
3. SGX Nifty is trading around 8620 about 20 points lower than Friday's close.
4. Good results from Reliance, China rate cut, huge buying by LIC in Axis Bank and Infosys all may support the market from falling too much.
5. But FII selling due to Greece fear is a big negative.
6. So markets may continue to trade with negative bias until the end of this week.
7. Greece out come will be known by the end the week.
8. LIC husing finance may react negatively to its results.
9. Glenmark Pharma will be in focus as Singapore Govt. buying the stake.
10. It will be good if Nifty future take support at around 8580.
11. If that level is broken, then Nifty future will retest 8500.
12. Weakness is seen only in Private sector banks, PSU Banks are looking strong. So Bank Nifty may not retest the low of 17800.
13. Reliance may come under selling pressure if it rises more than 2 to 3%.
14. Nifty future is expected to take support at 8580.
15. Resistance will be at 8680.