Pre Market Report, July 12, 2017 | Stocks and Commodities

July 12, 2017
Time: 8.15 am

1. US markets closed mixed and almost falt after falling in the first half of the session.
2. Asian markets are resilient and mostly trading positive.
3. Particularly Hong Kong has been doing very well in the last few days.
4. SGX Nifty is trading above 9800 which is positive opening for us.
5. Bank Nifty future fell 150 points from intraday high and Nifty nearly 40 points due to profit booking by traders.
6. But FIIs and DIIs were net buyers in Cash market.
7. FIIs were net buyers in both Index futures and Stock futures.
8. More than Rs 1000 crores of Stock futures were bought by FIIs.
9. Violent movement in the last few days of expiry which is called Gamma Effect may be less as P Notes are not allowed to trade in derivatives.
10. Mostly these P Notes short the market and make markets highly volatile in the last few days.
11. Markets may consolidate today also.
12. Tonigh Janet Yellen's comment will be an important event to watch.
13. Action may begin again tomorrow.
14. Today evening IIP and Inflation data will be out.
15. Markets tomorrow will be reacting to these two data.
16. Again on Friday morning markets will be reacting to TCS and Infosys results.
17. Today Nifty future may take support at 9780.
18. Resistance may come at 9840.
19. Bank Nifty is looking weak which may bounce towards the end of the day ahead of CPI Inflation data.
20. As long as 9780 is holding, we remain bullish for a target of 9880 in the short term.