Pre Market Report, July 23, 2014 | Stocks and Commodities

July 23, 2014
Time: 8.30 am

Pre Market Report:

1. US markets closed positive.
2. Asian markets are up.
3. SGX Nifty is trading around 7810.
4. SO today we are likely to see all time high, at least on intraday basis.
5. Axis Bank results came yesterday after the markets closed.
6. The results were in line with estimates.
7. So the bank nifty may not out perform other sectors.
8. Though Nifty will cross all time high, Bank Nifty may not cross all time high today.
9. Some RBI announcement yesterday evening were good for banks and gold financing companies.
10. Today Nifty should take support at 7780.
11. Resistance will be at 7840.
12. Since the markets will trade at all time, profit booking is expected in the afternoon.
13. Intraday traders be cautious about all time high.
14. Play with options in order to be safe.