Pre Market Report, July 23, 2015 | Stocks and Commodities

July 23, 2015
Time: 8.30 am

Pre Market Report:

1. US markets closed as technology stocks fell led by Apple.
2. But Asian markets are trading with positive bias.
3. Greece passed the bill for reforms yesterday night could be one possible reason.
4. SGX Nifty is trading flat with negative bias.
5. FIIs have bought for about 450 crores in cash market yesterday.
6. Though markets fell so much day before yesterday, FIIs have bought Index futures heavily.
7. As the markets faced resistance around 8650 many times, markets may breakout if it crosses 8650 and we need some trigger for that.
8. GST bill could be a good trigger.
9. Wipro and Bajaj Auto will declare results today.
10. The expectation is very high from Reliance which is due to declare results tomorrow evening.
11. Gold continue to trade below US$1100. Other metals are also weak.
12. Crude is also down, so all these are good for India.
13. Yesterday my prediction about the Nifty range has terribly gone wrong due to huge short covering despite weak Global set up.
14. Nifty future will find support at 8580.
15. Resistance will be at 8680.