Pre Market Report, October 25, 2016 | Stocks and Commodities

October 25, 2016
Time: 8.40 am

Pre Market Report:

1. US markets closed higher but with little volatility.
2. Most Asian markets are positive.
3. SGX Nifty is slightly higher, just by 5 points.
4. Yesterday our markets traded within a narrow range.
5. Nifty is likely to trade between 8700 and 8750 with high volatility.
6. But will breakout or breakdown eventually today or tomorrow.
7. Axis Bank resuslts are due today as per NSE, but some TV channels reported it as yesterday, but that was not true.
8. Axis Bank, HDFC Bank, Kotak Bank are three Nifty 50 banking stocks that will declare results today.
9. People are watching Axis bank results keenly as they are expecting some short covering rally as it has come down from 650 levels to 520 levels in the last three months.
10. Asian Paints, Dr Reddy and Bharti Airtel are the other three Nifty 50 stocks set to declare results today.
11. So these results along with reaction to Tata Group issue will dominate the markets today.
12. But there was no selling in Tata Motors ADR in US yesterday night.
13. Since Ratan Tata is taking over as Chairman, the damage to Tata stocks will be less.
14. FIIs are still selling and DIIs are still buying but the amount of seeling is not big.
15. Markets may be volatile due to expiry related issues.
16. Nifty future may trade between 8680 and 8760.