Pre Market Report, April 28, 2015 | Stocks and Commodities

April 28, 2015
Time: 8.30 am

Pre Market Report:

1. US markets closed marginally lower ahead of Apple results.
2. After US markets closed Apple came out with decent set of numbers.
3. Asian markets are positive, trading at 7 year high.
4. Yesterday though European markets opened lower, they were up after a news that Greece has reshuffled Debt Negotiating Team.
5. But all these are absolutely no use for us.
6. For us, what is important is when this FII selling will be over.
7. Yesterday, after falling so much in such a short time, FIIs have sold for Rs 1750 crores, which is really a nasty figure.
8. On top of FII MAT issue, poor corporate results are dragging the markets.
9. 5 stocks contributed for 50% of the fall in the last one week. (Infosys, TCS, Sun Pharma, HDFC, L&T)
10. Auro Pharma and many other quality mid cap stocks fell more than 20% in a matter of two to three days.
11. Nifty is likely to break 8200 and if there is no support at 8180, then there will be more downside.
12. Nobody is talking of expiry at higher level, every one is talking of a figure between 8000 and 8200.
13. When many world markets have given 20 to 40% return this year, Nifty has given a negative return.
14. If this continues, more FII money will be flowing to other countries.
15. Due to expiry related issues, there may be some intraday recovery and it is good to exit long positions during such recoveries.
16. But any time, LIC may step in and start buying, in that case there will be a meaningful recovery.