Pre Market Report, July 7, 2014 | Stocks and Commodities

July 7, 2014
Time: 8.45 am

Pre Market Report:

1. US markets were closed on Friday.
2. So there is no global cue for Asia.
3. Hence all Asian markets are trading flat.
4. SGX Nifty is also trading flat.
5. We may follow Asian markets.
6. There may be big action tomorrow after the announcement of Railway budget.
7. If there is any announcement regarding High Speed Bullet Train, markets will take it very positively.
8. That will be taken as a precursor for bold reform measures to be announced in Budget on 10th July.
9. Election results were declared on 16th May.
10. But markets shot up on 9th May without giving any chance to those who wanted to enter just before May 16th.
11. Same thing may happen now.
12. People who want to enter just before budget will be disappointed.
13. Markets will make big moves today or tomorrow and may not make big moves on actual budget day.
14. So with this kind of trading set up, it is difficult to predict a range for today.
15. We feel that Nifty future will trade between 7720 and 7820.
16. If Nifty future trades firmly above 7820, then next target is 8000.