Pre Market Report, July 17, 2015 | Stocks and Commodities

July 17, 2015
Time: 8.40 am

Pre Market Report:

1. US and European markets closed higher.
2. Greece parliament approval for debt plan and good corporate results are aiding the market rally.
3. Asian markets including China are trading firmly in Green.
4. SGX Nifty is trading marginally higher.
5. We have two more weeks for expiry and market conditions are so good.
6. Yesterday FIIs have bought for Rs 745 crores, highest in recent weeks.
7. DIIs did not sell much to match the FII buyibg.
8. So the upward momentum is likely to continue.
9. Nifty future may cross 8700 and may inch towards 8800 in the next two weeks.
10. So it is advisable to go long on declines.
11. There may be some profit booking at the end of the day today ahead of week end holidays.
12. Markets are likely to trade range bound with positive bias until afternoon.
13. There are no stock specific news.
14. Nifty should find support at 8580.
15. Resistance will be at 8680.