Pre Market Report, August, 25, 2016 | Stocks and Commodities

August, 25, 2016
Time: 8.15 am

Pre Market Report:

1. US markets closed lower.
2. Yet Asian markets are mixed.
3. Hong Kong was down in the morning but turned positive.
4. SGX Nifty is trading around 8675 about 25 points higher.
5. Last expiry Nifty closed at 8666.
6. This month Nifty has not closed above 8700 or below 8600, though during intraday these levels were breached few times.
7. Every one was expecting a correction as Nifty shot up nearly 1900 points from February low in the last 4 months.
8. But markets have chosen to correct timewise instead of pricewise correction.
9. There are no important corporate results.
10. Tata Motors may see some action ahead of its results tomorrow.
11. Today it is all about expiry.
12. If Nifty expires above 8666, it will be great victory for bulls, as fifth month Nifty will be closing in Green on monthly basis.
13. But European markets are likely to open negative and we need to see how our markets will react.
14. There is huge short positions in stock futures and stock specific short covering may be there.
15. Maruti and Auro Pharma saw a good action yesterday.
16. Nifty future should take support at 8620 and resistance will be at 8720.