Pre Market Report, October 26, 2015 | Stocks and Commodities

October 26, 2015
Time: 8.15 am

Pre Market Report:

1. Asian markets are all in Green.
2. SGX Nifty hit a high of 8376.
3. Now it is trading around 8350.
4. This is very important as 8350 is higher than the Friday's high of 8340.
5. But intraday correction of 40 to 50 points in Nifty is expected.
6. Resistance is expected at 8380.
7. HDFC and Bharti Airtel will be in focus ahead of its results.
8. Bank Nifty may head to 18300 where its 200 DMA lies.
9. So Nifty 200 DMA is at 8380 and Bank Nifty 200 DMA is at 18300 and both these levels will become huge resistance.
10. Once these levels are touched, either markets will consolidate or will come under selling pressure.
11. Many technical people say 8200 is the support for this expiry.
12. So my expectation is that Nifty will trade between 8200 and 8400 and Bank Nifty will trade between 17500 and 18500.
13. There will be no fire works in today's trade except the gap up opening in the morning.
14. Today Nifty is expected to trade between 8300 and 8400.
15. Bank Nifty is expected to trade between 17900 and 18300.

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.