Pre Market Report, May 25, 2017 | Stocks and Commodities

May 25, 2017
Time: 8.15 am

Pre Market Report:

1. US markets were up for 5th straight day.
2. But we are falling everyday.
3. For the last two days, my prediction of Nifty range has gone wrong.
4. Both days, Indo Pak tension news played out.
5. Mid caps and Small caps are feeling the heat.
6. But large caps are more or less safe.
7. Yesterday both FIIs and DIIs were net buyers in Cash market.
8. FIIs were net buyers in F&O market also, both index futures and stock futures.
9. Pharma stocks are in a free fall, most Pharma stocks are trading at less than 50% of their peaks, that too after two to three years.
10. It is a huge price as well as time correction.
11. Asian markets are mostly higher.
12. SGX Nifty is trading around 9410.
13. There could be some short covering rally in midcaps and small caps.
14. Nifty may extend the rally to 9450 - 9480 levels.
15. Expect some sharp moves towards the end of the day, last one hour.
16. Markets are likely to be volatile due to expiry.
17. ICICI Bank has been resilient in this downtrend, which may rally.
18. If Nifty future crosses 9420, then short covering possibility is high.
19. Nifty future may take support at 9380.