Pre Market Report, July 20, 2017 | Stocks and Commodities

July 20, 2017
Time: 8.10 am

Pre Market Report:

1. Day before yesterday, Nifty fell more than 1%, our markt has not seen that kind of fall in the last 8 months.
2. But the entire fall was due to ITC.
3. In fact, I mentioned, if ITC had not fallen, by this time Nifty should be trading above 10,000.
4. For those who think our makets shot up and correction should come, valuation is rich and so on, my reply is simple.
5. We are not moving higher alone, entire global markets are moving higher.
6. This is a global phenomina so don't be against the entire world.
7. Asian markets are mostly trading at 10 year high.
8. Same was the case with US and many European countries.
9. So it is a matter of time Nifty will cross 10000.
10. Yesterday FIIs were net buyers in Cash market for about Rs 1000 crores.
11. DIIs did not sell much, sold for about Rs 12 crores.
12. In F&O, FIIs were almost neutral.
13. So datawise, nothing seems to be on the downside.
14. Reliance is expected to move higher ahead of its results.
15. Kotak Bank results will be in focus due to its results.
16. Bank Nifty is likely to be volatile due to Weekly expiry.
17. Nifty future is expected to trade between 9880 and 9980.