Pre Market Report, August 17, 2016 | Stocks and Commodities

August 17, 2016
Time: 8.30 am

Pre Market Report:

1. US markets closed lower after a talk of Fed rate hike by September.
2. But that is nothing to worry as the same talks were there last time also.
3. Markets are more intelligent and markets have completely not factoring in any September hike.
4. Asian markets are mixed with Japan and Hong Kong up and other markets are down.
5. After 12 trading sessions, our markets have not gone anywhere.
6. FIIs keep buying in Cash market and DIIs keep selling.
7. In the last two trading sessions, FIIs started covering their stock future shorts.
8. Stock specific movements continue, good results are rewarded, Cipla was up after good results.
9. Bank Nifty was very volatile yesterday.
10. But the markets fall was arrested by Banking stocks only.
11. Since the markets have been consolidating, we can expect big move on either side.
12. I am sure expiry will be either below 8400 or above 8800.
13. The more it consolidates, the sharper will be the move as and when it comes.
14. But Put writers are confident that Nifty will not fall below 8500.
15. Since there are no important corporate results, action may be shifted to next week.
16. Nifty future may trade between 8600 and 8700.