Pre Market Report, June 11, 2015 | Stocks and Commodities

June 11, 2015
Time: 8.45 am

Pre Market Report:

1. Yesterday I could not write 'Pre Market Report' due to my Sun TV program.
2. US markets closed higher due to positive news about Greece.
3. Yesterday our markets rallied as China A shares were not included in MSCI Emerging Index.
4. Today, there is a positive news about Greece.
5. CAD figure is also impressive. Tax collections also improved significantly.
6. So there are many positive news suddenly.
7. Also markets were oversold.
8. One concern is that still FIIs have sold for about 500 crores yesterday.
9. Though markets expect some upside, markets are not expecting significant upside.
10. Changes in option prices are indicating that upside is very much limited to another 100 to 200 points only.
11. Though Nifty shot up by more than 100 points, turnrd around after huge fall, option prices of strikes 8400 and above did not see any significant change.
12. SGX Nifty is trading around 8150, still lower than yesterday's high.
13. There are some positive news related to some stocks like ICICI Bank, Auro Pharma, etc.
14. Nifty is likely to face resistance at 8180.
15. Support may be around 8060.