Pre Market Report, August 18, 2015 | Stocks and Commodities

August 18, 2015
Time: 8.45 am

Pre Market Report:

1. US markets closed positive after one positive and one negative economic data.
2. Asian markets are mostly trading with positive bias.
3. SGX Nifty is trading above 8500.
4. Yesterday we had some nasty surprises.
5. First Nifty fell nearly 130 points in a matter of few minutes in the morning.
6. Bank Nifty fell more than 300 points in the same manner.
7. Markets were highly volatile within the range.
8. Cipla was the top loser in Nifty despite good results.
9. Heavily beaten down stocks staged some recovery like Tata Steel, Tata Motors, etc.
10. But Aluminium makers are still falling with Hindalco falling continuously. Vedanta reportedly closed one of its Aluminium plant due to poor demand.
11. Results season is over, all important economic data are over, there are only 8 more trading sessions for expiry. Markets may consolidate with positive bias due to out performance of PSU Banks.
12. In the beginning of this series I said Nifty is likely to trade between 8200 and 8800 as the open interest were highest at these two strikes.
13. But Nifty has been trading in the range of 8350 and 8650.
14. This trend may continue until expiry.
15. Today Nifty is expected to trade in yesterday's range.
16. If European markets open and trade firm in the afternoon, then Nifty may try to break above 8540.