Pre Market Report, November 1, 2016 | Stocks and Commodities

November 1, 2016
Time: 8.35 am

Pre Market Report:

1. US markets closed lower on Friday.
2. There was a sudden fall when the news broke out that Hillary email issue will be investigated.
3. So that was reflected in Muharat Trading here on Sunday.
4. Nifty future fell much more than Nifty spot and the same case in Bank Nifty.
5. But yesterday there was a news report that said Hillary is leading Trump by 5 points.
6. For the next one week, it will only be Trump and Hillary who will be dominating the markets.
7. Yesterday US markets closed marginally lower.
8. Most Asian markets were trading at 6 weeks low today morning.
9. But Manufacturing PMI data that came from China was much better than expected.
10. So many Asian markets are recovering and trading slightly in Green.
11. Coming to local news, Auto and Cement stocks will be in focus ahead of their monthly sales data.
12. Auto majors likely to announce highest ever sales figures.
13. Maruti may cross 6000, spectacular run from 3200, if the sales data is good.
14. If it crosses 6000, I am planning to sell 6350 Call option.
15. Energy stocks may be under pressure as Crude prices continue to fall.
16. Since US futures are higher, our markets may recover towards the end of the day, if it falls during the day.
17. FIIs continue to sell and DIIs continue to buy.
18. Markets have been in consolidation mode for more than 2 months and markets will breakout or breakdown.
19. Some trigger is required for that and US election results may well be that trigger.
20. SGX Nifty is trading higher by 10 points comared to SUnday's close but if that is an indication, Cash market will fall slightly.
21. SInce US futures are trading well in the Green, the downfall will be limited.
22. Nifty future may take support at 8600.
23. Resistance will be at Friday's high of 8682.