Pre Market Report, July 21, 2014 | Stocks and Commodities

July 21, 2014
Time: 8.40 am

Pre Market Report:

1. Most Asian markets are up.
2. SGX Nifty is trading around 7700.
3. Reliance is likely to open up at least by 2%.
4. HDFC and HDFC Bank will declare results.
5. So energy and banking sectors will be in focus today.
6. As there are no market moving news, markets are likely to open gap up and then consolidate.
7. For most part of the day, Nifty future is likely to trade between 7680 and 7720.
8. Technically, next resistance will at 7808, previous high.
9. If HDFC bank, Axis Bank results are good, then Bank Nifty will try to break the resistance of 15700 this week.
10. In that case, Nifty is also likely to break the previous high of 7808 this week.