Pre Market Report, November 11, 2016 | Stocks and Commodities

November 11, 2016
Time: 9 am

Pre Market Report:

1. US markets closed mixed.
2. Dow closed at all time high but Nasdaq was down as IT stocks fell.
3. Indian Rupee along with other emerging currencies fell after our stock markets closed yesterday.
4. Mexico and Brazil markets fell more than 3%.
5. So SGX Nifty also fell nearly 200 points.
6. Now it is trading around 8415, still about 135 points lower.
7. Markets have been highly volatile in the last few days.
8. Today Tata Steel, M&M, SBI, Bank of Baroda are some of the key companies to declare results.
9. Yesterday Nifty fell about 70 points from intraday high but Bank Nifty did not fall even 50 points.
10. Most PSU Banks were up by more than 10% due to DII buying.
11. Today Bank Nifty may out perform Nifty until SBI and Bank of Baroda results are out.
12. IT stocks will come under severe pressure today.
13. Pharma stocks may not fall much, Sun Pharma may support.
14. FIIs continued to sell in Cash market and DIIs continued to buy.
15. FIIs bought in index futures and stock futures.
16. Today evening IIP and Inflation data will be out.
17. Monday is a holiday.
18. So markets are likely to be highly volatile.
19. December rate hike by US will be in focus from now.
20. As I stated earlier, our markets will be volatile and not likely to go anywhere until end of December.
21. Clear direction will emerge only in January.
22. Nifty future may trade in a wide band of 8380 and 8520.