Pre Market Report, July 3, 2017 | Stocks and Commodities

July 3, 2017
Time: 8.40 am

Pre Market Report:

1. On Friday, our markets made a fantastic recovery after touching 9450.
2. That was due to juge buying by DIIs.
3. DIIs have bought for Rs 1195.71 crores while FIIs have sold for Rs 160.48 crores.
4. US markets closed higher on Friday.
5. It was one day up and one day down for US markets throughout last week.
6. Markets will be reacting to auto sales data today.
7. Manufacturing PMI data to be released at 10.30 will also play a role.
8. Manufacturing PMI data is improving in other countries, China PMI has come at more than 50 today after showing less than 50 for the last few months.
9. Nifty Put has the highest open interest at 9400 and Nifty Call has the highest open interest at 9700, indicating the range of 9300 to 9800 for July series.
10. So one can sell Nifty 9300 Put and 9800 Call in July series.
11. But one should not forget that July series will be a volatile series due to corporate results in the last two weeks.
12. Traditionally July series is a bullish series.
13. This time monsoon has been very good, we need to see the impact of GST implementation.
14. According to experts. GST is not good for stock markets in the short term and very good in the medium to long term.
15. SGX Nifty is trading between 9500 and 9530 this morning.
16. US and Europen futures are higher.
17. Today Nifty future is likely to take support at 9480.
18. Resistance will be coming at 9580.
19. Bank Nifty will be trading between 22000 and 24000 at least for the next two weeks.
20. After than corporate results will decide the levels for Bank Nifty.