Pre Market Report, September 20, 2016 | Stocks and Commodities

September 20, 2016
Time: 8.25 am

Pre Market Report:

1. US markets closed almost flat after opening firmly in Green.
2. Banking stocks were up and US markets were dragged down by Apple.
3. Asian markets are cautious ahead of BoJ and Fed meetings.
4. Yesterday though our markets were firm, Banking stocks under performed the broader markets.
5. ITC and HDFC Bank dragged the index.
6. ICICI Bank was up.
7. It seems that there is good response for ICICI Pru. IPO from retail people.
8. Yesterday most of the applications came from retail people.
9. There are some reports that suggests US may go for rate hike taking advantage of higher stock market prices and low volatility world over.
10. But Bond markets see only 15% chances of rate hike.
11. There is every possibility of huge two way movement in the markets on Wednesday and Thursday.
12. That may happen when BoJ and Fed do things that are far and against the expectation of the markets.
13. Wednesday and Thursday are two important trading days for the world markets.
14. FIIs seems to be buying still in Cash market.
15. F&O market, FIIs seems to be a confused lot, one day buying and one day selling.
16. DIIs however continue to sell in Cash market.
17. Today's market action may be "Calm before Storm".
18. Markets may consolidate in a narrow range.
19. Nifty future may take support at 8780.
20. Resistance will be at 8880.