Pre Market Report, July 9, 2014 | Stocks and Commodities

July 9, 2014
Time: 8.45 am

Pre Market Report:

1. US markets also fell drastically.
2. Asian markets are all down.
3. But the downside will be limited here today.
4. Short sellers will not be very active ahead of key event, Budget.
5. Do not be surprised even if there is any bounce back due to short covering.
6. US markets fell due to the fear of bad corporate earnings.
7. The first company to declare results, Alcoa, declared a better than expected results after the markets closed.
8. So even US markets are likely to stabilise today.
9. Even European futures are trading slightly positive.
10. Nifty future should take support at 7580.
11. Resistance will be at 7680.