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

December 17, 2015
Time: 8.30 am

Pre Market Report:

1. US markets closed higher after the rate hike by Fed.
2. As I have mentioned earlier, this Fed event has become a non event.
3. None of the world markets is falling after the Fed event.
4. SGX Nifty is also trading higher at around 7790.
5. But from now, local cues will take over.
6. That is why SGX Nifty is up just 20 points higher than our close of around 7770.
7. Diesel vehicle ban and GST are the two important issues right now.
8. Huge selling by FIIs in Cash market is also a concern.
9. India VIX has fallen in the last two days and that is likely to continue today.
10. Bank Nifty will be in focus as short covering may continue as Fed event is not taken negatively by the markets.
11. Maruti will be in Focus due to the ballot for Gujarat plant.
12. Nifty is likely to take support at 7680
13. The resistance will be at 7820.