Pre Market Report, May 31, 2016 | Stocks and Commodities

May 31, 2016
Time: 8.45 am

Pre Market Report:

1. Yesterday markets consolidated with minor gain.
2. But the volatility shot up.
3. Another Nifty 50 stock, Hindalco, shot up by 12%.
4. Today it may the turn of Tata Motors.
5. But Tata Motors may not shoot up by 10% but since it was up by 4% yesterday, even 6% rise is considered as very good.
6. Tata Motors, Sun Pharma, Auro Pharma all declared very good results.
7. US markets were closed yesterday.
8. So Asian markets are trading without any clue from US.
9. Tata Motors is trading in US, since US markets were closed, people are not able to predict how it will open today here.
10. SGX Nifty is trading around 8215, about 25 points higher.
11. A rise of 6% in Tata Motors alone will contribute more than 20 points to Nifty.
12. SBI looks bullish with Rs 300 crore of delivery buying yesterday.
13. Out of top 10 Stock Put options traded, 7 are from SBI options.
14. Out of top 10 STock Call options traded, 4 are from SBI options.
15. So much of speculative activity is going on in SBI.
16. As I said earlier, Nifty 8000 looks to be very strong support and hence maximum open interest is there.
17. Corporate results season has ended yesterday with 3 Nifty 50 companies declaring very good results.
18. So from tomorrow onwards, we will focus on economic data like monthly auto sales, Manufacturing and Services PMI data, US jobs data, GDP and Fiscal Deficit data, etc.
19. Nifty is ikely to consolidate further with positive bias.
20. Nifty future is expected to trade between 8160 and 8240.