Brexit Rocks International Markets

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Stock Market Today by Shailesh Saraf – 13th June 2016

The Indian Markets are slated to open gap down by 70 points at 8125, as SGX Nifty at 8.43 am. This indicates the panic which will also affect our Markets. The FII & Pro combined have sold above 100000 options in the past 3 trading sessions. If the Markets trade below the low of 8150, which is 2 weeks low, the short term trend will turn to sell.

International Markets have collapsed as many as 3 surveys are indicating a higher probability of BREXIT. The Markets in the past few days had believed that the “Remain” campaign of the BREXIT would prevail over the “Leave” campaign. The latest Polls have come with a rude shock and the GBP/USD collapsed downwards by 150 ticks, which is an average one day movement, in 15 mins. This nervousness is bound to continue till 23rd June, when the Referendum takes place. Dax has touched its one month low falling 500 points in the past one week. The Asian Markets are reflecting this mood this morning.