Pre Market Report, October 5 2015 | Stocks and Commodities

·       October 5 2015

      Time: 9 am

  1.         1. Just before Jobs data on Friday evening, Dow futures was trading about 100 points plus, then at           6pm Indian Time, Jobs data came at 1,42,000 against the expected figure of 2,00,000, then Dow         opened about 250 points lower.

·         2. That was a swing of about 350 points, then slowly markets recovered to close 200 points plus. So       there was a total swing of 350 plus 450 points and that is a huge swing of 800 points in Dow which     is a very rare event.

·         3. Even SGX Nifty fell to a low of 7881 on Friday night and closed at over 8000. Remember SGX           Nifty closes when US markets are in the middle of the trading.

·         4. Today it is trading around 8040.

·         5. That is a neat swing of about 160 points in Nifty.

·         6. Nifty faced resistance t around 8050 many times.

·         7. Today it is opening around that figure, we have to see whether it sustains or not.

·         8. On last Thursday, I expected Nifty to sustain above 8000, but it did not.

·         9. There are motile resistances between 8050 and 8150, so Nifty is likely to spend sometime in this         range.

·         10. At least until earnings are clear.

·         11. Infosys is starting the earnings season on 12^th October.

·         12. The Euphoria is not there as the stock has already run up, hitting 52 week high on last Thursday.

·         13. Nifty is expected to trade between 7800 and 8250 during this week as there are no major news            flow.

·         14. Today Nifty future is expected to trade between 7980 and 8080.