Pre Market Report, June 6, 2017 | Stocks and Commodities

June 6, 2017
Time: 8.30 am

Pre Market Report:

1. US markets closed lower marginally.
2. Most Asian markets are also mostly down.
3. But SGX Nifty is not down.
4. Last week we have under performed the world markets.
5. So we may out perform now.
6. The reason: Yesterday both FIIs and DIIs were net buyers, FIIs were net buyers in both Index futures and Stock futures.
7. And this is happening when markets are trading at all time high.
8. Anil Ambani stocks recovered after press meet by Ambani and moratorium announced by banks.
9. Axis Bank supported the bank nifty.
10. Both Nifty and Bank Nifty hit all time high.
11. Now the focus will turn to RBI policy.
12. Yesterday as expected Nifty future resistance came at 9700.
13. Today the resistance may come at 9720.
14. Support may come at 9640.
15. Markets may consolidate once again.
16. So be prepared for a boring session.
17. Keep an eye on Banking stocks.