Pre Market Report, September 23, 2016 | Stocks and Commodities

September 23, 2016
Time: 9 am

Pre Market Report:

1. Today's blog writing is delayed as I went for a movie yesterday night. (Thodari, a nice movie, like English Movie 'Speed')
2. Yesterday markets moved as expected.
3. Bank Nifty was highly volatile due to weekly expiry.
4. Yesterday both FIIs and DIIs bought for over Rs 300 crores each.
5. FIIs in F&O created short positions in index future and stock future.
6. Today Asian markets are mostly flat after of trending higher for more than a week.
7. SGX Nifty is flat at 8880.
8. Any dip will an opportunity for traders to go long.
9. We can expect Nifty to expire above 9000 this expiry.
10. Anil Ambani stocks are buzzing.
11. Auro Pharma broke out yesterday after a long consolidation.
12. IT stocks are not showing any improvement.
13. Once again, it is going to be Auto and Private Sector banks that will charge the bulls.
14. Pharma may join them.
15. Going by the options data Nifty is likely to trade between 8800 and 9000 in the short term.
16. Nifty future is likely to face resistance at 8920.
17. If that is crossed with some volume or if Nifty future trades above 8920 for more than 10 minutes, then the next target will be 8980.
18. Expect consolidation today after huge rally yesterday.
19. Markets may trade rangebound in the morning but expect some sharp moves either side towards the end of the day.