Pre Market Report, October 19, 2015 | Stocks and Commodities

October 19, 2015
Time: 8.15 am

Pre Market Report:

1. US markets closed higher on Friday.
2. World markets were on uptrend for the last three weeks.
3. Nift has gone up by more than 700 points from the last month low.
4. So some profit booking is expected as Nifty is trading at the higher end of the trading range.
5. China GDP came at 6.9% slightly better than expected figure of 6.9%.
6. But profit booking is dragging many Asian markets.
7. Asian markets are mixed, some up and some down.
8. Commodities are also slightly down.
9. SGX Nifty is trading around 8240, marginally lower.
10. People expect Reliance to open 3 to 5% gap up.
11. Reliance is the first large company to surprise positively when it comes to corporate results.
12. HCL Tech is set to announce the results today and it is expected to be a poor results as they have given profit warning earlier.
13. We have to see how banking stocks after break out on Friday.
14. Due to the break out on Friday, markets are expected to consolidate for two to three days before making a big move. 
15. There are only 8 trading sessions and consolidation for 2 to 3 days will be very good for option sellers.
16. India VIX was down by more than 5% on Friday. So no big moves expected.
17. Today Nifty is expected to trade between 8220 and 8320.

DISCLAIMER

The recommendations made herein do not constitute an offer to sell or a solicitation to buy any of the securities mentioned. No representations can be made that the recommendations contained herein will be profitable or that they will not result in losses. Readers using the information contained herein are solely responsible for their actions. Readers are advised to consult their Financial consultants before taking any position. The analysis is partially Technical and partially Fundamental. The views expressed are the Author's own views.