Pre Market Report, September 15, 2016 | Stocks and Commodities

September 15, 2016
Time: 8.30 am

Pre Market Report:

1. US markets ended mixed with Dow and S&P 500 down and Nasdaq up.
2. Dow fell nearly 200 points from intraday high.
3. Many Asian markets are closed like China, Taiwan, South Korea.
4. Other markets are almost flat with some positive and some negative bias.
5. SGX Nifty is trading around 8750, about 30 points lower.
6. Markets may trade within a range until Fed policy is clear next Wednesday.
7. But breaking the previous day's low for many days is a cause for concern.
8. On Monday Nifty future low was 8727.
9. Yesterday Nifty future low was 8717.
10. Today if Nifty future break yesterday's low of 8717, then it is very bearish.
11. Once again, FIIs and DIIs both have sold in Cash market.
12. FIIs have sold heavily in F&O market as well.
13. Yesterday Banking stocks helped the Nifty to rise.
14. Today YES Bank may come under pressure due to SEBI investigation.
15. Anil Ambani stocks are buzzing due to various reasons like Rcom-Aircel merger, floating a new company Reliance Housing Finance, good results from Reliance Infra, etc.
16. Crude oil prices fell by about 6% in the last two days.
17. That is good for India but not good for world markets.
18. Monsoon rain is not above Long Term Average as expected.
19. But that may not be a big negative for our markets.
20. Markets may consolidate for few weeks and may try to move higher in October.
21. Big correction may come only after making another upmove.
22. Today Nifty future may trade again between 8720 and 8820.
23. If Nifty future trades firmly below 8720, then next target will be 8680.