Pre Market Report, July 27, 2017 | Stocks and Commodities

July 27, 2017
Time: 8.45 am

Pre Market Report:

1. US markets closed higher.
2. Asian markets are mostly higher.
3. SGX Nifty is trading around 10040.
4. Today is expiry day, market is going to be highly volatile.
5. There are many factors that will play out.
6. First, corporate results. About 18% weightage stocks are declaring results today.
7. ITC, ICICI and Maruti are the key companies set to declare results today.
8. Second, Bihar development is positive for markets.
9. BJP has gained another bigger state after UP.
10. Third, most important, P Notes derivatives trade will have to be closed by today, except those open positions in other months contracts which are very little.
11. On top of all these, expiry related issues will play out.
12. I will not be surprised if Nifty make a big move in the afternoon on either side.
13. Market is ultra bullish, PCR is above 2, RSI has been above 70 for the last many weeks.
14. Yesterday I sold 9800 Put at Rs 4, which was a good trade.
15. Additionally, I also sold 9900, 9950 Put options.
16. Bank Nifty is looking more bullish.
17. That is going to be highly volatile also due to ICICI Bank result.
18. But ICICI Bank result may come after the market hours.
19. For traders, my simple advise, do not trade today.
20. Nifty may trade between 10000 and 10080.