Pre Market Report, December 8, 2015 | Stocks and Commodities

December 8, 2015
Time: 8.25 am

Pre Market Report:

1. Yesterday markets opened higher but quickly fell.
2. ITC alone dragged the Nifty by 35 points.
3. If we exclude ITC, Nifty would have closed in Green.
4. FIIs did not sell much in Cash market, their selling figure was less than 100 crores.
5. But today the picture is very bad.
6. Crude oil fell to 7 year low.
7. Brent crude is trading closer to $40.
8. This fall in crude prices brought the US markets down.
9. So Asian markets are also falling.
10. SGX Nifty is trading around 7750.
11. This means that Nifty cash should be around 770 which is a very important technical levels.
12. If Nifty breaks 7700, then breaking the August low of 7550 is very high before next Friday.
13. It will be very difficult for Nifty to cross 8000 by the end of December.
14. But at the same time, shorting the market now is also difficult as there will be a huge short covering rally of 200 to 300 points in Nifty if GST bill is passed.
15. Yesterday Bank Nifty closed positive which may come under pressure today.
16. Tata Motors is in focus after declaring good sales figures for JLR.
17. ITC will be in focus after more than 6% fall yesterday.
18. Companies located around Chennai will also be in focus due to flooding.
19. Nifty future should take support at 7720. If that fails today, Nifty will fall aggressively.
20. Resistance will be at 7820.