Pre Market Report, July 4, 2016 | Stocks and Commodities

July 4, 2016
Time: 8.15 am

Pre Market Report:

1. US markets closed slightly higher on Friday.
2. Most world markets were up on all 5 days of last week.
3. So some kind of consolidation or profit booking is expected this week.
4. That is why some Asian markets are marginally down.
5. But SGX Nifty is trading about 35 points higher.
6. On Friday DIIs have bought for more than 900 crores.
7. That is a very big positive for markets.
8. Usually DIIs book profits at higher levels.
9. Nifty was up more than 400 points in the last one week, yet DIIs have bought in huge quantities.
10. Monsoon progress has been very impressive.
11. Tonight US markets are closed and that will be good for traders as there will be no negative surprise tomorrow morning.
12. Nifty future is expected to trade between 8300 and 8600 for next two weeks.
13. Action will be very good in the last two weeks.
14. I will not be surprised if Nifty expires around 8700 at the end of this month.
15. That is assuming that GST bill is passed and corporate results are good.
16. Today Tata Motors will be in focus as it declared very good local sales as well as JLR sales.
17. SBI will be in focus as it has sold NSE shares for about 900 crores.
18. L&T will be in focus as L&T Infotech public issue is nearing.
19. All monsoon related stocks will be in focus due to very good rain over the weekend.
20. Nifty future may trade between 8360 and 8440.