Pre Market Report, April 11, 2016 | Stocks and Commodities

April 11, 2016
Time: 8 am

Pre Market Report:

1. Though US markets closed positive on Friday, Asian markets are trading mixed.
2. SGX Nifty started below 7550 and now trading around 7565 after China markets started trading firmly in Green.
3. Nifty future closed around 7585 here on Friday, so we may start slightly lower today.
4. But the rise or fall will not be significant today as there are no market moving news today.
5. On Friday, FIIs turned net buyers in Cash market and that may support our markets at lower levels.
6. Govt. may form a panel to okay PSBs bad loan settlement plan and this news may a big positive for PSU Banks.
7. Bank Nifty future took support closer to 15500 and with this positive news for PSU Banks and results season around the corner (IndusInd Bank, HDFC Bank and Axis Bank will declare results in the next few days), Bank Nifty may not fall much from the current levels.
8. Infosys will be in focus as Aberdeen Asset Management has sold 56.2 lakh shares in open market.
9. Spirit companies will be in focus as Tamil Nadu chief minister talks of liquor ban in a phased manner..
10. Crude oil prices continue to climb, rising 8% in the last two trading sessions is also a good news.
11. Crude prices up, China is doing well, US markets are also doing well, FIIs have turned net buyers, so there are no negatives for our market.
12. As per a report in Economic Times, corporate results are likely to be good this time.
13. So in the medium term, our markets are likely to do very well and may get rerated in the next few quarters if monsoon is also good.
14. Retail people started exiting the markets, as per a report Mutual Funds saw first outflow in March 2016.
15. Retail people exiting is a sign of market bottoming out.
16. Nifty future should take support at 7520 today.
17. Resistance will be at 7640.