Pre Market Report, December 22, 2015 | Stocks and Commodities

December 22, 2015
Time: 8.20 am

Pre Market Report:

1. US markets closed higher after a volatile session.
2. Asian markets are mixed.
3. SGX Nifty is almost flat.
4. Yesterday FIIs have bought for Rs 37 crores in Cash market.
5. DIIs have bought for Rs 62 crores.
6. Markets were up yesterday despite the GST concern.
7. Nifty closed just below the resistance level of 7850.
8. If that is crossed, the next resistance will be at 7980.
9. Since parliament functions properly in the last few days, though there was no agreement on GST, there is no negative surprise from political front.
10. Global cues will be mixed as volumes dry in most markets.
11. Mutual funds may buy more towards the end of the month in order to boost NAV.
12. There are only 7 more trading sessions and my feeling is that Nifty might expire between 7700 and 8000.
13. There was a premium of 20 points in Nifty future during the yesterday's trade but at the closing the premium fell to just 4 points.
14. This shows that the Nifty is at resistance zone.
15. Bank Nifty is out performing Nifty.
16. Since the Banks are beaten heavily, there may be some more short covering in Banks.
17. Axis bank is still trading about 50 to 60 rupees lower than its last month price.
18. Most PSU Banks are still trading very close to 52 week low and India Bank hit a fresh 52 week low yesterday.
19. Volatility may be more due to low volume and expiry related issues.
20. One more down day is there in the next few days.
21. Nifty future is expected to trade between 7780 and 7900.