Pre MArket Report, April 8, 2016 | Stocks and Commodities

April 8, 2016
Time: 9.55 am

Pre Market Report:

1. US markets closed lower.
2. Asian markets are all lower.
3. Yesterday both FIIs and DIIs have sold in Cash market.
4. Everything looks negative.
5. So this may be the best time for short sellers to square off their trades.
6. SGX Nifty is trading flat with positive bias.
7. One of by followers told me once that he saw my blog, all information I have given was positive, so he thought that was the best time to go short.
8. So when everything is positive, some people go short and when everything is negative, some people go long.
9. In that sense, it is time to go long.
10. Nifty has fallen 250 points in the last 4 trading sessions.
11. This is a huge fall in such a short time.
12. So markets may not witness another fall.
13. I expect some short covering bounce towards the end of the day if there is any low formed in the afternoon.
14. Our markets fell by 70 points yesterday despite all positive global cues.
15. Today we may close positive despite negative global cues.
16. Yesterday HDFC, Infosys and ITC alone contributed about half of the fall.
17. Though 7580 is broken, Nifty fell without any corresponding increase in India VIX.
18. In fact despite 70 points fall, Put option premiums did not move higher significantly.
19. That is an indication that markets may be bottoming out here.
20. Let us see where markets close today.