Pre Market Report, July 15, 2015 | Stocks and Commodities

July 15, 2015
Time: 8.45 am

Pre Market Report:

1. US markets closed higher.
2. FIIs were on the buy side yesterday.
3. SGX Nifty is trading around 8480.
4. China GDP came at 7% slightly above expected figure of 6.9%.
5. China IIP data also came positive.
6. Yet both China and Hong Kong markets fell. But other Asian markets are trading in Green.
7. Iran nuclear deal is a big positive for India in the medium to long term.
8. Oil marketing companies and companies like ONGC will benefit directly and all other sectors will benefit indirectly.
9. As per a report, Crude is likely to fall by US$4 per barrel in the medium term.
10. Some smaller banks will start the results season for PSU Banks.
11. Expectation is high after very good results from IndusInd Bank.
12. Nifty is likely to consolidate with positive bias.
13. Nifty future will face resistance at 8520.
14. If that crossed firmly, it will rise further to 8580 but that may not happen today.
15. We need good corporate results to support the markets to break above 8550 which is 50% Fibonacci retracement.
16. Nifty future may find support at yesterday's low of 8440.