Pre Market Report, August 1, 2014 | Stocks and Commodities

August 1, 2014
Time: 8.45 am

Pre Market Report:

1. US markets fell drastically, DOW fell more than 300 points.
2. This is despite very good economic data.
3. Good economic data means rise in the interest rate sooner than expected.
4. Also Argentina defaulted on its loans.
5. That brings back economic worry of few countries.
6. So Asian markets are following US.
7. SGX Nifty fell below 7680, the support level.
8. But now trading slightly higher than that, at 7690.
9. Nifty future should take support at 7680 today, failing which, next support level will be 7620.
10. There are no important Q1 results today.