Pre Market Report, October 20, 106 | Stocks and Commodities

October 20, 106
Time: 8.15 am

Pre Market Report:

1. US markets closed marginally higher.
2. Now the last round of pewsidential debate between Hillay and Donald is going on.
3. In all three rounds, including today's one, Hillary seems to be winning.
4. US futures are up while the presidential debate is going on.
5. Asian markets are mostly higher.
6. SGX Nifty is trading around 8690, it hit a high of 8703 in the morning.
7. Yesterday though FIIs have turned net sellers in Cash market, DII buying more than 700 crores is surprising.
8. Corporate results so far both from US and India are good.
9. Today, Yes Bank results and Weekly expiry of Bank Nifty will add volatility to Bank Nifty and hence Nifty.
10. LIC Housing Finance, Biocon, Reliance are other key stocks to declare results today.
11. ITC fell yesterday, it was ITC and ICICI Bank that brought the markets down yesterday.
12. Markets may be volatile but rangebound today.
13. There will be short covering rally if Nifty future crosses 8720.
14. In the case, Nifty future will move towrads 8780.
15. Otherwise, Nifty future may settle between 8680 and 8720 at the end of the day.
16. Market action will be outside the index, in midcaps and small caps.
17. Midcaps and small caps may out perform Nifty.
18. Nifty future may trade between 8660 and 8740.