Pre Market Report, November 17, 2015 | Stocks and Commodities

November 17, 2015
Time: 9 am

Pre Market Report:

1. US markets shot up after few days of weakness.
2. Asian markets are all up.
3. SGX Nifty is also up by about 40 points.
4. Usually after a terrorist attack, even short sellers do not use the opportunity to bring the market down, showing solidarity with the country.
5. Our markets will go for consolidation between 7700 and 8000.
6. Once again Bank Nifty has come to 17200 range, remember I said on August 29th, Bank Nifty was 17200 and it has going up and down, but after 3 months it is still there.
7. Today Banking stocks likely to do well.
8. Better results from PSU Banks in terms of NPAs fueling rally in PSU stocks.
9. Short covering rally came in Pharma stocks.
10. Maruti did very well yesterday.
11. Nifty future may find resistance at 7920.
12. Nifty future will find support at 7820.
13. Selling will be there at higher levels due to huge selling by FIIs in cash market.