Pre Market Report, June 8, 2016 | Stocks and Commodities

June 8, 2016
Time: 8.15 am

Pre Market Report:

1. US markets ended mixed after a volatile session.
2. Asian markets are mixed, some are up and some are down.
3. SGX Nifty is trading almost flat with positive bias.
4. Yesterday due to Dovish comment by RBI lifted banking stocks.
5. SBI and ICICI lead the markets higher.
6. Yesterday both FIIs and DIIs were net buyers in Cash market.
7. That is a very positive sign as DIIs were net sellers in the previous 4 sessions.
8. FIIs were net buyers in Cash market for about Rs 3000 crores in the last 5 trading sessions.
9. In F&O, they have created long positions for more than 5000 crores in index futures in the last 5 sessions when markets were consolidating.
10. There was a significant addition in Nifty 8200 Put and 8100 Put yesterday.
11. India VIX fell below 15.
12. Monsoon is likely to set in tomorrow over Kerala, but nobody is bothered about official announcement.
13. There has been good rainfall in many places even without the onset of monsoon.
14. As I stated yesterday, I expect Nifty future to consolidate between 8280 and 8320 on closing basis.
15. If Nifty future closes above 8320, then the next target will be 8380.
16. Since the maximum open interest among Calls is at 8400, markets will struggle to cross 8400.
17. Markets all over the world are waiting for export-import data from China which was suppose to be declared at 8 am but being delayed.
18. Bank Nifty future is trading at 70 points discount to Bank Nifty spot.
19. This will have to correct by tomorrow as weekly option expires tomorrow.
20. Nifty future may be trading between 8250 and 8340.
21. Markets are likely to consolidate for another one or two days.