Pre Market Report, October 27, 2016 | Stocks and Commodities

October 27, 2016
Time: 8.25 am

Pre Market Report:

1. Yesterday our markets fell due to global cues, Axis Bank's poor results and towards the end of the day fell further due to sudden fall in European markets and Cyrus shocking revealtion of billions of write downs by Tatas.
2. Sine Axis Bank fell so much, as collateral damage, ICICI Bank also fell.
3. So Axis Bank, ICICI Bank and Tata Motors were responsible for major part of the fall.
4. US markets closed mixed as Apple fell.
5. At the end of the day, FIIs were net sellers for 1450 crores and DIIs were net buyers for 989 crores.
6. In F&O also shorting continued.
7. So the market set up suddendly changed due to Axis Bank results, Tata corporate tussle and global cues.
8. Losses are magnified due to expiry related issues.
9. Whenever some weakness comes to the markets few days before the expiry, expiry will be usually in favour of short sellers.
10. So SGX Nifty is also trading about 30 points lower.
11. Nifty future may take support at 8580.
12. If that fails then expiry panic may drag the markets further lower.
13. Maruti will declare results, any small unexpected results, the stock will fall as it is trading at all time high.
14. Due to expiry we can expect some sharp move towards the end of the expiry.
15. I expect this sharp move on the higher side.