Pre Market Report, May 8, 2015 | Stocks and Commodities

May 8, 2015
Time: 8.45 am

Pre Market Report:

1. US markets closed positive.
2. Asian markets are firm.
3. China market is up after falling for 3 days in a severe fall.
4. Europe is also likely to open positive as UK exit polls are favourable to ruling party.
5. SGX Nifty is trading about 70 points higher.
6. Sanity returned to our markets yesterday after insane trading on Wednesday.
7. Though markets fell yesterday, half the Nifty shares were up. On Wednesday only one Nifty share was up, that too marginally.
8. There is also fear among the short sellers that once 8000 is broken, LIC may step in to place huge buy orders.
9. So short sellers also decided to square off their short trades closer to 8000.
10. Now Nifty is expected to trade between 8000 and 8200.
11. Breaching either level depends on PNB and Bank of Baroda results today and on Monday.
12. Today US jobs data is also very important.
13. So clear picture will emerge only next week.
14. Until then be prepared for highly volatile trades.