Pre Market Report, June 22, 2015 | Stocks and Commodities

June 22, 2015
Time: 8.15 am

Pre Market Report:

1. I could not write 'Pre Market Report' on Friday as I had to go to a Bank for some business loan.
2. I will be in Singapore until the end of July, so there may be some disruptions during this period in writing reports.
3. US markets closed negative on Friday.
4. But there was a news report that Greece has offered a better deal on Sunday.
5. After this news Asian markets are up and US futures are also up sharply.
6. Euro is also firming up after this news.
7. China market, which has been a drag in the last few days, is closed today.
8. SGX Nifty is higher by about 20 points.
9. News about good progress of monsoon, good news from Greece, short covering in Banking stocks may lead the markets higher.
10. Today Nifty may trade higher in the range 820 to 8320.
11. Reliance has broken out, so Oil and Gas sector will also help the market rally.
12. FII selling is also subsided.
13. They have sold just over 100 crores in cash market on Friday.
14. Nifty is expected to expire between 8300 and 8400 this Thursday.
15. Bank Nifty may cross 18000 and that may trigger further short covering.
16. Today Nifty should take support at 8220.