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

June 6, 2016
Time: 8.45 am

Pre Market Report:

1. I could not write "Dalal Street Week Ahead" during the week end.
2. I will write today evening.
3. Today morning, Asian markets are mixed.
4. Chinese related stocks and Japan are down whereas most other markets are up.
5. SGX Nifty is clueless and trading flat.
6. On Friday US jobs data came very very low at 38000 against an expected figure of 1,64,000.
7. So the rate hike next week by Fed is ruled out.
8. In fact there is only 30% probability for July hike.
9. This is a good news in the short term for emerging markets.
10. In particular, India will benefit as the sentiment is good in India.
11. Bank Nifty will be in focus ahead of RBI policy tomorrow.
12. 'Onset of monsoon' will be announced any time by IMD.
13. RBI policy and Onset of Monsoon are the two important events this week.
14. Since corporate results are over, markets will focus on economic data and general news that affect the markets.
15. Nifty future may consolidate today ahead of RBI policy.
16. Nifty future may take support at 8220.
17. Resistance will be at 8280.
18. This range may not be valid if IMD announces 'Onset of Monsoon' during the market hours.