Pre Market Report, December 7, 2015 | Stocks and Commodities

December 7, 2015
Time: 8.30 am

Pre Market Report:

1. US markets closed higher on Friday after s tong Jobs data.
2. Most Asian markets are higher.
3. SGX Nifty is trading higher at around 7860.
4. I was away from the markets for the last one week.
5. First three days, markets did not move much.
6. But in the last two days, Nifty fell more than 150 points mainly due to global cues.
7. ITC may fall due to 'Demerit' GST rate of 40%.
8. 40% GST proposed for 'Luxury Cars' also, but what is luxury is not clear.
9. This week is all about the progress of GST.
10. Four hours have been allocated for discussion on GST.
11. So far things are going in the right direction.
12. I did mention earlier that markets are likely to move lower due to anxiety before moving higher after GST bill.
13. So Nifty has already fallen. So now after GST Nifty may shoot up to 8200. If no GST, Nifty will break below 7550.
14. Nifty may take support at Friday's low.
15. Resistance will be at 7920.

Note: After visiting Delhi, Agra, Jaipur, Udaipur, Jodhpur, Jaisalmer, I was to return to Chennai on 5th December. But my flight was cancelled due to rain. So I will be staying in Rajasthan for another one week. So my reports may not be regular for another one week.