Pre Market Report, November 13, 2015 | Stocks and Commodities

November 13, 2015
Time: 8.30 am

Pre Market Report:

1. After Bihar elections, now US rate hike is haunting the markets.
2. US markets fell drastically.
3. Asian markets are all down.
4. Commodity prices are all lower trying to test August lows.
5. SGX Nifty is trading around 7760 after hitting a low of 7735.
6. With today's fall, our markets are continuously falling for three complete weeks.
7. This is a very rare event. Technically markets reached 'oversold' region as RSI is below 30.
8. But yet there is no reversal, forget about reversal there is no stabilisation.
9. There will be panic if Nifty breaches 7700 where the highest open interest among Put is there.
10. IIP data and Inflation data were much below the expectation. So Bank Nifty will come under pressure due to bad inflation.
11. Metals, Capital Goods will be under pressure .
12. Only hope is Auto sector, Ashok Leyland added in India Domestic Index by MSCI and BMW showcased TVS-BMW bike in Geneva.
13. Those who have sold 7700 Put should square up and shift to 7600 Put if Nifty future breaks 7750.
14. But one good thing today is that all data are out and hence India VIX should come down further and hence premiums.
15. There are only 8 trading sessions after today.
16. Now the chances of Nifty breaking September low of 7540 is very high over a period of next few weeks.
17. Today Nifty future should trade between 7740 and 7820.