Pre Market Report, July 10, 2014 | Stocks and Commodities

July 10, 2014
Time: 8 am

Pre Market Report:

1. US markets closed positive after two days of fall.
2. US markets rose despite the Fed announcement regarding ending of bond purchase by October.
3. Alcoa company results gave hope that earnings season will be good in US.
4. Most Asian markets are positive.
5. But here everything depends on Budget.
6. Continued FII buying will make sure there will be short covering rally if the budget is good.
7. Otherwise also, since Nifty has already fallen by 200 points, the fall will not be much.
8. Today's support will be at 7400 (in case if the budget is disappointing one).
9. The resistance will be 7800 (in case of a good budget)
10. Before the budget markets will be volatile and after the budget VIX will fall.