Pre Market Report, June 9, 2016 | Stocks and Commodities

June 9, 2016
Time: 8.15 am

Pre Market Report:

1. US markets ended higher.
2. US markets closed very near to all time high.
3. Asian markets are mixed.
4. FIIs are buying in huge quantities both in Cash and F&O markets.
5. Yesterday they have bought for Rs 529 crores while DIIs have sold for Rs 258 crores.
6. FIIs have bought for more than 1200 crores in F&O.
7. SGX Nifty is trading above 8300.
8. Bank Nifty future is trading at Rs 70 discount to the Bank Nifty spot.
9. It will be interesting to see the movement of Bank Nifty future due to the expiry of weekly options in Bank Nifty.
10. IT stocks may come under pressure as Tamil Nadu government allowed labour unions in IT industry.
11. TCS may come under pressure as this is the consequence of some terminations in TCS last year.
12. Dr Reddy is in trouble again from US and that may affect the entire Pharma pack.
13. PSU Banks will be in focus as RBI Governor is likely to be given extension as per a report by ET Now channel.
14. As FIIs are too bullish and the fact that Nifty is not even correcting 100 points after rising about 600 points, I feel that Nifty is headed higher after time correction.
15. Markets have been consolidating for the last 7 to 8 trading sessions and markets may breakout on the higher side.
16. If Nifty future trades above 8320, then 8380 will be the next target.
17. I am buying on every dip.
18. Now we need to watch the progress of the monsoon and developments on GST.
19. State Finance ministers are to meet on June 14 on GST issue.
20. Nifty future is likely to trade between 8250 and 8340 today.