Pre Market Report, May 6, 2016 | Stocks and Commodities

May 6, 2016
Time: 8.30 am

Pre Market Report:

1. US markets closed mixed after a volatile sessions.
2. Jobless claims data from US was not good.
3. Asian markets are down.
4. Asian markets are falling for the 8th day continuously.
5. SGX Nifty is trading around 7720.
6. So Nifty may open gap down by more than 50 points.
7. Our markets are also higly volatile.
8. Yesterday afternoon Nifty future was at 7817 and now in Singapore it is at 7717, a cut of 100 points.
9. It looks like the correction in the world markets are going to stay for few months from now.
10. Our markets fate will be decided by monsoon.
11. If monsoon is not satisfactory, then our markets will also continue to correct for next few months.
12. There are no important corporate results due today.
13. The weekly low of 7731 will be broken today.
14. The next support will be at 7680.
15. Bank Nifty, particularly ICICI Bank is very weak.
16. FIIs have started selling in Cash market on a daily basis, yesterday they have sold for Rs 388 crores.
17. DIIs are not in a mood to go for big buys.
18. So markets are likely to be volatile with negative bias.
19. Only good jobs data from US today evening may change the trend.
20. Nifty future is expected to trade between 7680 and 7780.