Pre Market Report, July 5, 2017 | Stocks and Commodities

July 5, 2017
Time: 8.25 am

Pre Market Report:

1. US markets were closed yesterday.
2. Asian markets opened generally lower but now recovering.
3. Hong Kong and China turned positive from negative, most affected country due to Inter Continental Ballastic Missile launch by North Korea is South Korea, even South Korea is trading positive.
4. SGX Nifty traded lower for some time but now trading above 9630, so it may be positive open for us.
5. FIIs continue to sell while DIIs continue to buy, but yesterday FII selling was more than DII buying.
6. But FIIs were buyers in F&O and that may cushion the market.
7. Despite the Geo Political tension in Korea, markets did not react much.
8. We need to see how US markets react tonight, Fed minutes will also be in focus in US.
9. I expect rangebound trade until the results season starts.
10. So we may continue to consolidate between 9500 and 9700 for another 7 to 8 trading sessions.
11. Usually July is a bullish series.
12. Nifty may touch 9900 if cororate results are good.
13. Bank Nifty has under performed the Nifty is the last few days, Bank Nifty expiry tomorrow may make it more volatile.
14. So today we can expect Nifty future to trade between 9580 and 9680.
15. We do not have to react until this range is breached.