Pre Market Report, June 13, 2016 | Stocks and Commodities

June 13, 2016
Time: 8.45 am

Pre Market Report:

1. Brexit feras are growing and world markets are falling.
2. Hong Kong markets opened gap down by more than 500 points.
3. There was a shooting incident in Florida, US where more than 50 people are dead and more than 50 people injured.
4. Since the shooter is a muslim, ISIS is taking advantage and says that it has carried out the shooting.
5. But US denies any link of shooter with ISIS.
6. So the fear is higher now.
7. US futures fell after this shooting incident.
8. So today it is going to be a black Monday where all world markets will be falling heavily.
9. Both Japan and Hong Kong are down by more than 2%.
10. SGX Nifty is down by more than 70 points, now trading around 8125.
11. We have good local cues and bad global cues, so our markets will be highly volatile.
12. The volatility has already started on Friday when Nifty swung more than 300 points intraday.
13. Four central bank meetings, Brexit issue, monsoon progress, CPI and WPI inflation data all will keep our markets volatile this week.
14. Yet I believe that Nifty will trade between 8000 and 8300.
15. Markets will become optimistic or pessimistic only when this range is breached.
16. Until then it is a consolidation.
17. Nifty future should take support at 8080 today.
18. There will be some panic selling in the morning and markets are likely to stabilise after that.
19. Nifty future may consolidate in the range 8080-8120.
20. Intraday volatility will be higher for next few days.