Pre Market Report, May 17, 2016 | Stocks and Commodities

May 17, 2016
Time: 8.45 am

Pre Market Report:

1. US markets closed higher after a rise in Apple shares.
2. Asian markets are trading mixed.
3. Yesterday there was a sudden crash in both China and Hong Kong markets.
4. Hong Kong markets fell 2.5% in 2 minutes.
5. But recovered to trade higher.
6. But still the scare is there, so both China and Hong Long are trading lower despite good global cues.
7. SGX Nifty is trading between 7900 and 7920.
8. Yesterday both FIIs and DIIs have sold in Cash markets but the selling was not high.
9. HDFC Bank, IndusInd Bank, Yes Bank hit fresh 52 week high yesterday.
10. All PSU Banks fell, yesterday out of bottom 10 F&O stocks, 8 stocks were from Banking.
11. Exit poll results are in line with opinion poll results, favourable to BJP.
12. BJP needs to gain more MPs in Rajya Sabha and Congress should lose more MPs so that GST bill will sail through.
13. Bharat Forge, Motherson Sumi, Voltas are some companies to declare results today.
14. Auto and OMC companies will be in focus as petrol prices increased.
15. Nifty future should find resistance at 7940.
16. If 7940 is crossed, next target will be 8000.
17. Markets have been highly volatile for the past two weeks, but trading between 7700 and 8000.
18. So the trend may continue and breakout may happen next week.