Pre Market Report, July 8, 2015 | Stocks and Commodities

July 8, 2015
Time: 8.50

Pre Market Report:

1. Everyone was worried about Greece but China has become a real worry.
2. More than one third of shares in China suspended trading.
3. So people who are scared off value erosion as and when they open up for trading, are shorting other available shares for trading.
4. So China index fell from 5000 to below 3500 in the last two weeks.
5. No agreement between Greece and Creditors is adding fuel to fire.
6. Copper has fallen by 8.5% in the last two days. That is not good for Vedanta which is already trading at 52 week low.
7. Gold and Crude are also falling.
8. IMF warned US not to raise interest rates in 2015.
9. Though all these things are good for India, in the short term there may be high volatility.
10. SGX Nifty is trading around 90 points lower.
11. Greece has until Sunday to come out with alternate proposals.
12. But going by the news available, there is not going to be any significant change in Greece proposals.
13. So markets will enter the zone of high volatility.
14. Nifty future should take support at 8400 and resistance will be at 8520.
15. The fall may be bought into at some stage as there was no FII selling in the last few days in cash market.