Pre Market Report, December 29, 2015 | Stocks and Commodities

December 29, 2015
Time: 8.30 am

Pre Market Report:

1. US markets though closed lower were off intraday lows.
2. Most Asian markets are falt to negative.
3. Crude oil fell again by more than 3%.
4. Yesterday's trade was unusual.
5. There was good buying by DIIs, yet Nifty future closed about 20 points discount to Spot and Bank Nifty closed about 50 points discount to Spot.
6. I mentioned yesterday's resistance at 7920, Nifty future reversed after touching 7921.
7. But today SGX Nifty hit a high of 7948.
8. Now SGX Nifty is trading around 7925.
9. Highest open interest among Puts is at 7800, so Nifty is not likely to go below 7800 this expiry.
10. Highest open interest among Calls is at 8000 and it seems that Nifty will try to expire around this level.
11. DIIs are buying aggressively in order to show higher NAV in their funds.
12. Yesterday they have bought for 988 crores in Cash market.
13. However FIIs have sold for Rs 303 crores.
14. Our markets out performed the world markets yesterday.
15. So the same may happen today.
16. There is huge buying in F&O by FIIs.
17. So though the year was turbulent, the last week seems to end with a happier note.
18. Nifty future may trade between 7780 and 7980 today.