Pre Market Report, July 28, 2015 | Stocks and Commodities

July 28, 2015
Time: 8.25 am

Pre Market Report:

1. Yesterday morning while writing the report, we did not know the China factor.
2. China markets fell by 8.5% on reports that Govt. may not support the markets.
3. So stocks fell all over the world.
4. Today morning also China stocks were highly volatile.
5. Though markets are falling in most countries, Hong Kong and Taiwan are trading in Green.
6. SGX Nifty traded at a low of 8302 and now trading around 8350.
7. It is difficult to predict the market moves due to expiry.
8. Any time, some short covering may set in and markets may move higher.
9. But any such rise will be only short lived as there will not be any buying.
10. If there is no short covering then Nifty might expire between 8280 and 8420.
11. Maruti and L&T will be in focus as it declares results today.
12. Yes Bank will be in focus ahead of its results tomorrow.
13. As I am writing this report, China index is moving higher and it is now just half a percent down.
14. Nifty is likely to trade between 8320 and 8420.
15. We assume that there will be no more shocks from China.