Pre Market Report, September 28, 2016 | Stocks and Commodities

September 28, 2016
Time: 8.45 am

Pre Market Report:

1. Yesterday after Presidential debate, markets recovered all over the world.
2. SO our markets also opened firmly higher.
3. But later in the day, when news broke out that Iran was not in agreement to freeze the Crude output, markets started falling.
4. So our markets also fell and Nifty future broke the series low of 8717.
5. Nifty future broke 8700 but recovered in the last 15 minutes.
6. Yesterday night US market closed higher but most Asian markets are lower as the Crude news is not factored in, in East Asian markets yesterday.
7. AGX Nifty is trading around 8700, the level at which it was trading around 3.15 pm yesterday.
8. Usually when markets fall in the last week of expiry, markets recover only in the next series.
9. Most of the time the series close at the lowest point of the series in this kind of senario.
10. Bank Nifty has already fallen by 1000 points in the last few days.
11. We need to see how much more it can fall.
12. Clearly Banking stocks lost the leadership.
13. Reliance and IT stocks are saving the markets.
14. Markets are likely to stabilise in the region 8680-8720.
15. The problem will start if Nifty future breaks 8680.
16. There is huge selling by FIIs in both Cash and F&O markets.
17. DIIs are not buying aggressively, means they are expecting the markets to come down further.
18. The day before expiry is usually high volume day and market movement is very difficult to predict.
19. Let us see how markets move today.
20. As long as 8680 is not broken, we can expect some stability.