Pre Market Report, September 29, 2015 | Stocks and Commodities

September 29, 2015
Time: 8.55 am

Pre Market Report:

1. US markets fell drastically, breaching some important technical levels.
2. The reason: China Industrial companies profits plunged by more than 8%, fastest fall in the last 4 years.
3. Biotech index fell another 6% taking the total fall this month to 25%, taking the index to bear territory.
4. Singapore market has gone to bear territory.
5. Very bad global cues are over shadowing RBI policy.
6. Nifty is moving violently between 7700 and 8000 in the last two weeks.
7. We have to see whether Nifty takes support at 7700 today.
8. People in US are more bearish than 2008 Lehman Brother's collapse crash. That is a very bad news.
9. Markets are likely to be very volatile until afternoon.
10. FIIs continue to sell, yesterday afternoon also there was a basket selling, Nifty fell more than 50 points within few seconds.
11. Today it is all about RBI policy, there is no room for disappointment.
12. Let us see what is going to happen.
13. The details we discussed already.
14. (1) No rate cut - Too negative (2) 25 Basis Cut - Marginally negative (3) 50 Basis Cut - Marginally positive.
15. I changed my view slightly by taking global cues into consideration, in addition to the rate cut, whether RBI Governor's tone is Hawkish or Dovish about the Economy and future cuts will be more important.
16. Nifty future should take support at 7680. Resistance will be yesterady's high of 7930.
17. Markets have the potential for such a huge swing today.