Pre Market Report, October 19, 2016 | Stocks and Commodities

October 19, 2016
Time: 8.25 am

Pre Market Report:

1. US markets closed higher.
2. Asian markets are all trading with positive bias.
3. SGX Nifty is almost flat.
4. That is because we have out performed the other markets yesterday.
5. Usually after such a big rally, markets may consolidate for next two to three days, if there is no major news flow.
6. Yesterday markets were up not because of any news flow, markets are likely to consolidate with positive bias.
7. ITC and other FMCG stocks will be in focus as GST Council says no to 40% GST.
8. Liquor companies and Tata Motors, owner of Jaguar and Land Rover, will also be in focus due to this.
9. Reliance and Yes Bank which were in action yesterday will continue ahead of their results to morrow.
10. Yesterday FIIs have turned net buyers in Cash market.
11. After a long time, both FIIs and DIIs have become net buyers.
12. In F&O also there were no much shorting happening even when the markets were on the downtrend.
13. FIIs are buying stock future in huge quantities.
14. So the short term downtrend may be over.
15. No nasty surprises from GDP data of China.
16. Roller coaster ride seems to have started, in the last 10 trading sessions Bank Nifty fell more than 500 points intraday on two days and up by nearly 500 points one day.
17. Similary Nifty moved about 150 points on three days, two days down and one day up.
18. Let us see what happens today.
19. Nifty future is expected to trade between 8620 and 8720.