Pre Market Report, July 28, 2016 | Stocks and Commodities

July 28, 2016
Time: 8.45 am

Pre Market Report:

1. US markets closed almost flat.
2. Fed has become a non event as expected.
3. Asian markets are all consolidating with negative bias.
4. Many people think our markets should fall as markets shot up from 6800 to 8600 in four months without any meaningful correction.
5. But this is not only in India, it is the case with all the world markets.
6. Markets are consolidating and not correcting in any country.
7. Yesterday markets shot up in the morning due to Japan's stimulus announcement foor 28 trillion Yen
8. Later due to some regulatory restrictions announcement in China, markets fell drastically.
9. Again in the afternoon, markets stabilised after Europe opened higher.
10. So one of the worst volatile day of trading yesterday.
11. Today also we can expect something like that.
12. Markets will be highly volatile due to expiry related issues.
13. PNB will declare results and it will influence Bank Nifty.
14. Bank Nifty was almost flat in the last one week.
15. SGX Nifty is almost flat at 8612.
16. I expect Nifty to expire between 8620 and 8680.
17. I have sold 8550 Put and 8700 Call options.
18. The real action will begin only next week with GST, RBI policy etc.
19. Nifty future should take support at yesterday's low.
20. Resistance will be at yesterday's high and if that is crossed then 8680.