Pre Market Report, July 6, 2015 | Stocks and Commodities

July 6, 2015
Time: 8.15 am

Pre Market Report:

1. Greece has voted "No" in referendum.
2. So Asian markets are falling.
3. US futures are down by more than 1%.
4. SGX Nifty is down by about 70 points.
5. But last Monday our markets fell drastically due to Greece news but recovered smartly towards the end of the day. 
6. China announced some measures to stabilise its stock markets.
7. China opened about 7% higher but now trading about 4% higher.
8. Brent crude fell by about 4% due to Greece issue and that is actually a good news for us. Bret crude is trading below US$60 now.
9. So OMC may do well.
10. India is well placed to deal with any crisis due to Greece.
11. Our markets may not fall as much as other markets.
12. Kotak Bank will be in focus as FII limit has been increased from 49% to 55%.
13. Our markets are likely to be volatile this week.
14. Next week, corporate results will take over the direction of the markets.
15. Nifty future should take support at 8380.
16. As long as that support holds, markets are likely to bounce back in the next few days.
17. Resistance will be at 8500.