Pre Market Report, September 7, 2016 | Stocks and Commodities

September 7, 2016
Time: 8.30 am

Pre Market Report:

1. Few weeks before, in one of the financial website forum, I mentioned that I am bullish. 
2. Many people wrote against me, one of them has even accused me that I am manipulating the markets.
3. He said 'all retail people should unite and bring down the markets and teach a very good lesson for the bulls and then should buy when markets fall'.
4. I commented 'You have gone short and expect entire retal people who are sitting with huge losses since 2008, praying for markets to go higher, to sell all their shares in order to make profit for you'
5. Then he commented in my blog dated 24 August 2016 by saying that "you say markets are likely to hit all time by November which is equivalent to commiting suicide"
6. I see people around me taking very bearish view and that is the exact reason why I am taking a bullish view.
7. Now we are just less than 2% away from all time high.
8. In fact if you remove IT stocks, we are already at all time high.
9. Midcap index is already at all time high.
10. So my simple advise is that do not take any aggressive directional view and if that view goes wrong you lose heavily in F&O.
11. Tata Motors and Axis Bank both saw huge trading activity yesterday, unfortunately I have short position in both.
12. This rally will continue as this is not a broad based rally.
13. Reliance was at Rs 1600 when Nifty was at 6300 in 2008 but now when Nifty is close to 9000, reliance is still around 1020.
14. Infy is down by about 20% in the last few weeks.
15. So short sellers be aware of the risk.
16. You are long or short, you should know how to manage your risk well.
17. Nifty future is likely to find resitance in the region 9000-9020.
18. If Nifty future trades firmly above 9020, then 9150 will be the next target.
19. SGX Nifty is trading about 25 points higher.
20. Asian markets are mostly in Green.