Pre Market Report, August 6, 2015 | Stocks and Commodities

August 6, 2015
Time: 8.25 am

Pre Market Report:

1. Yesterday I could not write the report due to my Sun TV program.
2. US markets ended mixed with Dow down and Nasdaq and S&P 500 up.
3. Asian markets are mixed.
4. China is volatile.
5. SGX Nifty hit a high of 8622 yesterday night but now trading around 8575.
6. RBI policy has come and gone, markets maintain the bullish tone.
7. Yesterday IT stocks took the leadership.
8. There are no key results today. Motherson sumi may be in focus ahead of its results.
9. Nifty facing stiff resistance around 8600.
10. FIIs have turned net buyers, not only that, they have bought close to 500 crores in cash market yesterday.
11. So the chances of market breakout is higher now.
12. Highest open interest in put option is at 8200 and call option is at 8800.
13. So Nifty is expected to move in the range 8200 to 8800 until the end of this month.
14. To markets may consolidate in the range of 8560 to 8620.
15. If 8620 is crossed, then next target will be 8680.
16. But that may not happen today.
17. Midcaps are already trading at all time high, though large caps are significantly lower from the all time high.