Pre Market Report, July 17, 2014 | Stocks and Commodities

July 17, 2014
Time: 8.20 am

Pre Market Report:

1. US markets were up again yesterday night.
2. Most Asian markets are up marginally.
3. Portugal and Iraq tensions are subsiding, Crude prices are down, Global Cues are good, FIIs have started buying again, so everything looks good now.
4. There are reports that monsoon is likely to revive and the much feared drought conditions will not be as bad as feared.
5. VIX trading below 15 is another positive.
6. But yesterday markets rose significantly in the last one hour.
7. So markets are likely to consolidate foe one or two days before resuming the uptrend again.
8. IT stocks will be in focus as TCS declares the results today.
9. TCS results today evening and Reliance results on Saturday will influence the trend for the next few days.
10. Today Nifty future is likely to trade between 7620 and 7680.