May 27, 2015
Time: 8.40 am
Pre Market Report:
Time: 8.40 am
Pre Market Report:
- US markets were down by more than 1%.
- Asian shares are down.
- SGX Nifty is trading below 8300, lower than yesterday's low.
- Tata Motors is down by more than 3% in ADR, so it is likely to fall by 3 to 5% in today's trade.
- Tech Mahindra also came out with bad set of numbers.
- US interest rate hike fear, Greece problem spreading to Spain, bad corporate results by big companies like Infosys, SBI, ICICI, Tata Motors etc make the markets highly volatile.
- There are no important result today.
- Markets are likely to be highly volatile ahead of expiry.
- Optimism from the markets is gone and Nifty is likely to expire between 8200 and 8400 tomorrow.
- One good thing is that May series may give positive return as Nifty closed at 8181 in April series.
- But Bank Nifty is likely to under perform as Bank Nifty closed at 18338 in April series.
- If there is any short covering towards the end of the day tomorrow, things may change.
- But as of now, things look bearish.
- Nifty should take support at 8280, failing which it may slide to 8220.
- There will be panic in the morning due to huge gap down, so one may consider shorting only if there is any intraday recovery.
- It is safe to play with options.
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