Pre Market Report, August 24, 2015 | Stocks and Commodities

August 24, 2015
Time: 8.30 am

Pre Market Report:

1. Markets all over the world are in absolute panic.
2. Many markets fell between 5 to 8% lower.
3. China fell 8.5%, just 1.5% to go lower circuit. Any lower circuit will create more panic in the markets.
4. SGX Nifty is trading about 200 points lower. Worst gap down opening in the last many years.
5. SGX Nifty fell more than 60 points intraday today morning in Singapore.
6. On Friday, US markets decisively breached the technical levels and fell more than 10% from the peak, first time in the last 4 years.
7. Gulf countries markets all fell more than 5% yesterday (Those markets are open on Sunday) due to weaker oil prices.
8. Govt. has chosen the worst possible day to off load 10% stake in IOC for Rs 9300 crores.
9. DIIs may need to allocate funds to bailout IOC in case if it flop (that is very likely) so their ability to support the markets at lower levels is a big question mark.
10. We are getting into a situation like 2008.
11. In 2008, it was the world's largest economy, US, that brought the markets down all over the world.
12. Now it is the turn of second largest economy, China, to bring all the markets down.
13. Even medium term out look has changed for world markets.
14. Markets may stabilise but may not move higher in the next few months.
15. At best markets may consolidate.
16. Nifty will show some panic movements, there will be lot of margin calls, compulsory square off by brokers.
17. So the downside may be at around 8000.
18. Nobody want to talk of upside.