Pre Market Report, May 27, 2015 | Stocks and Commodities

May 27, 2015
Time: 8.40 am

Pre Market Report:

1. US markets were down by more than 1%.
2. Asian shares are down.
3. SGX Nifty is trading below 8300, lower than yesterday's low.
4. Tata Motors is down by more than 3% in ADR, so it is likely to fall by 3 to 5% in today's trade.
5. Tech Mahindra also came out with bad set of numbers.
6. 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.
7. There are no important result today.
8. Markets are likely to be highly volatile ahead of expiry.
9. Optimism from the markets is gone and Nifty is likely to expire between 8200 and 8400 tomorrow.
10. One good thing is that May series may give positive return as Nifty closed at 8181 in April series.
11. But Bank Nifty is likely to under perform as Bank Nifty closed at 18338 in April series.
12. If there is any short covering towards the end of the day tomorrow, things may change.
13. But as of now, things look bearish.
14. Nifty should take support at 8280, failing which it may slide to 8220.
15. There will be panic in the morning due to huge gap down, so one may consider shorting only if there is any intraday recovery.
16. It is safe to play with options.