Pre Market Report, December 11, 2015 | Stocks and Commodities

December 11, 2015
Time: 8.40 AM

Pre Market Report:

1. US markets closed in Green after falling for many days.
2. Even yesterday, there was selling in the last one hour of trade in US.
3. Dow fell more than 100 points in the last one hour and that is not a good sign.
4. Except Japan, all Asian markets are down.
5. SGX Nifty is almost flat.
6. Yesterday also FIIIs have sold for more than 500 crores.
7. They keep selling more than 500 crores everyday.
8. But DIIs have bought for Rs 400 crores.
9. Yesterday it was just a short covering as Nifty was trading closer to 52 week low for many hours without breaking it.
10. With GST uncertainty and Fed meeting next week, markets at best may consolidate.
11. Only good thing that is that India VIX is not shooting up.
12. Yesterday's short covering was led by Reliance.
13. Good comment from Infosys management also helped.
14. But PSU Banks did not do well, though markets were up, PSU Bank index was down by about 1%.
15. Both IPOs closed with impressive subscription and that is a good sentiment.
16. Nifty future should take support at yesterday's low.
17. Resistance will be at 7740.
18. Markets are likely to trade with slightly lower bias and may make a sharp move towards the end of the day.