Pre Market Report, June 24, 2016 | Stocks and Commodities

June 24, 2016
Time: 8.45 am

Pre Market Report:

1. The worst is happening as feared.
2. Brexit seems to be happening.
3. "Out" is leading by about 5 lakh votes right low which is difficult to bridge.
4. Sterling pound has fallen by 10%.
5. German and UK futures are down by more than 8%.
6. I will not be surprised if some European markets fall by 10% and the trading halt takes place.
7. In the early morning when "Remain" was leading, Japan index was up by 500 points but now down by 500 points.
8. The panic will grip the markets all over the world.
9. Dow futures is down by more than 500 points.
10. SGX Nifty tested the low of 8083, remember that is where Nifty future took support in the last few weeks.
11. Nifty future took support around 8080 three times, so if that is broken then markets will fall below 8000.
12. This may be like "Lehman Brothers" in 2008.
13. Markets may not fall in vertical line, there will be rebounds from here and there and any rebound should be used to exit the long positions.
14. Technical selling will take place if Nifty falls below 8080.
15. Things have changed totally overnight.
16. Be ready for roller coaster ride, not only today, for the next few months.
17. "Monsoon", "GST" all will have to be forgotten now.
18. Nifty future will try to stabilise around 8080.
19. If that level is broken, the next support is at 8000.