Pre Market Report, July 21, 2017 | Stocks and Commodities

July 21, 2017
Time: 8.30 am

Pre Market Report:

1. US markets closed mixed once again.
2. Technology stocks are doing well in US.
3. Asian markets are mixed.
4. SGX Nifty is up by about 15 points, hovers around 9900.
5. But we may be in for a pleasant surprise today.
6. First, though Nifty was weak yesterday, despite poor show by Canara Bank and poor show by PSU Banks, poor show by Kotak Bank, Bank Nifty was up.
7. That was due to strong show by Axis Bank and HDFC Bank.
8. Second, excellent result by Reliance, the share price is expected to open 3 to 4% higher.
9. Third, good results from WIPRO and huge buyback at attractive price. Wipro was up by more than 5% in US.
10. So with Bank Nifty, Reliance and IT stocks on strong footing, there is no reason for markets to fall.
11. FIIs were net buyers in Cash market for about Rs 154 crores and DIIs were net buyers for just Rs 1 crore.
12. In F&O, there was no significant long or short buildup.
13. We do not know how much more shorts are left with P Note money.
14. That will make next 5 trading sessions very very uncertain.
15. Highest open interest among Puts is at 8800 and Calls is at 10000.
16. So markets may consolidate between these levels until option premiums are eaten.
17. Today Nifty future may trade between 9880 and 9960.