Pre Market Report, July 7, 2017 | Stocks and Commodities

July 7, 2017
Time: 8.25 am

Pre Market Report:

1. US markets once again traded with volatility.
2. But Asian markets recation is muted.
3. Crude has fallen by more than a percent.
4. But yesterday we did not follow the global markets.
5. In fact, we have not been following global markets for the last few weeks.
6. Many time when global markets were up, we did not go up just because of GST implementation doubt.
7. We need the catch up that under performance by out performing the worls markets.
8. So we may open lower by following global cues but we may recover later.
9. In fact I will not be surprised if markets close at all time high at the end of the day.
10. We have crossed 9700 two times and if we cross once again, then surely there will be breakout.
11. Crossing all time high may happen at the end of the day or by Monday morning.
12. That is my expectation, again there are lots of ifs and buts.
13. There was no selling by FIIs or DIIs even when markets are trading close to all time high.
14. Bank Nifty is nearly 500 points away from all time high.
15. So Banks will have to do well for markets to breakout.
16. Next week Indus Ind Bank will declare results, if the results are good then Private Sector Banks will move higher and that will take Bank Nifty higher.
17. So always buy on dips in July, if Nifty opens lower, one can sell 9400 abd below Put options.
18. Yesterday Bank Nifty expiry has gone very well for me, made about Rs 12 lakhs intraday profit by selling 23400, 23300, 23200 Put options.
19. I concluded that Bank Nifty was not going to fall as PSU Banks were doing after after a foreign brokerage upgraded PNB.
20. Nifty future may trade between 9620 and 9700.