Pre Market Report, July 16, 2015 | Stocks and Commodities

July 16, 2015
Time: 8.40 am

Pre Market Report:

1. US markets closed almost flat.
2. But Asian markets are firm except China and Hong Kong which are volatile as usual.
3. SGX Nifty is trading almost flat but with a positive bias.
4. Petrol and Diesel prices are cut Rs Rs 2 and that is good for OMC.
5. Yesterday Bank Nifty under performed Nifty.
6. PSU Banks did not do well in yesterday's trade.
7. Greek Parliament has approved bail out deal and that is a good news for world markets.
8. But our markets has recovered the entire loss made due to China and Greece issue.
9. So our markets may consolidate around this level.
10. Until expiry Nifty may trade with plus or minus 200 points.
11. Nifty will face stiff resistance at 8700 until expiry.
12. One may consider selling 8800 and 8900 Call during intra day rallies and can sell 8300 Put and 8200 Put during intraday falls. 
13. 8400 Put option has the highest open interest and therefore selling 8300 Put option is reasonably safe.
14. Please keep appropriate stop losses in case if you create positions.
15. Today Nifty is likely to trade between 8520 and 8600.