Pre Market Report, July 13, 2015 | Stocks and Commodities

July 13, 2015
Time: 8.40 am

Pre Market Report:

1. US markets closed higher on Friday due to Greece debt issue hope.
2. But nothing has materialised over the week end.
3. Some European countries do not believe Greece and wanted Greece to pass the austerity bills in Parliament before debt negotiations.
4.  But Asian markets are firm.
5. SGX Nifty is trading flat but that may not be the true picture of our market internals.
6. On Friday, IIP data came lower than expected and that increases the case for rate cut by RBI.
7. Indirect tax collections were up by 37% and that is a good news.
8. CPI Inflation data is due today evening and WPI Inflation data tomorrow afternoon.
9. IndusInd Bank results will be out today.
10. So Banking stocks will be in focus for the next few days and Capital Goods stocks may correct a little bit due to lower IIP data.
11. In fact Bank Nifty has out performed Nifty in the last two trading sessions and that may continue today also.
12. Nifty is likely to take support at 8340 and resistance will be at 8420.
13. We have to see whether Greece markets open today or not, if that opens what will be the damage is another interesting thing.
14. There may be some sharp moves here if Greece markets open. But I guess that Greece markets will be closed today also.