Pre Market Report, May 22, 2015 | Stocks and Commodities

May 22, 2015
Time: 8.35 am

Pre Market Report:

1. Once again US markets closed at all time high.
2. Asian markets are firm.
3. SGX Nifty is marginally lower as there was some FII selling yesterday.
4. Today markets are likely to trade in a range in the first half.
5. Sharp movement, either upside or downside, is expected in the second half of the session.
6. Bank Nifty will move sharply after SBI results.
7. SBI and to some extent ITC results will make or break the markets today.
8. FIIs have bought more call options. So they are expecting breakout above 8450 today or in early part of next week.
9. So today it is all about SBI results and Bank Nifty.
10. Mid caps are likely to be in action as results were good from Britania, Voltas etc.
11. Yesterday Nifty future respected our prediction, took support at 8380.
12. If that is broken today, Nifty future will slide to 8320.
13. On the other hand, if Nifty crosses 8450, Nifty will move towards 8550.