Pre Market Report, July 3, 2014 | Stocks and Commodities

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July 3, 2014
Time: 8.15 am

Pre Market Report:

1. US markets ended mixed, Dow and S&P 500 rose and Nasdaq just closed in red marginally.
2. Asian markets are mixed.
3. SGX Nifty is trading at 7775 which is higher than the yesterday's high.
4. Benign global cues, falling crude oil prices, continued FII buying, appreciating rupee, positive economic data from US, pre budget expectation, all these favor bulls.
5. The major sector that did not participate in this rally is the private sector banks.
6. Let us see which sector leads the rally today.
7. Nifty future will be between 7800 and 8000 by next Thursday.
8. US markets will close early today and tomorrow they are closed.
9. So world markets are likely to move in sideways mode.
10. Today ECB rate decision is due from Europe.
11. Services PMI data is due from India.
12. Nifty should consolidate and may not make any big moves today and tomorrow.
13. Nifty future should trade between 7720 and 7820 today.