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

October 29, 2015
Time: 8 am

Pre Market Report:

1. US markets closed significantly higher.
2. Just after Fed announcement, Dow fell more than 100 points but shot up in the last one hour to close about 200 points higher.
3. Fed announcement was viewed as moderately Hawkish.
4. Asian markets are marginally higher.
5. But here is all about banking stocks after Axis Bank issue.
6. Yes Bank declaring results will add to the volatility.
7. When people are worried about NPA in Private Sector Banks, then no need to say anything about PSU Banks.
8. So under performance in Banking stocks will continue in short term.
9. But today is the expiry day, it will be difficult to predict how markets will move in the last one hour of trade.
10. My guess is that markets will open marginally lower and will be under pressure until afternoon, Nifty may even test 8120, but there will be some sharp intraday move on the higher side towards the end of the day.
11. It all depends on how much shorts are there to be squared off.
12. DrReddy and Yes Bank are the key companies to declare results today.
13. Nifty is expected to expire between 8130 and 8220, if there in no sharp movements towards the end of the day.
14. SGX NIfty is trading around 8150, about 35 points lower than our close here yesterday.
15. So be ready for a roller coaster expiry.
16. Traders are advised to keep strict stop losses for intraday trades. Since the volumes are low, markets can move in unpredictable manner. 

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.