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

August 3, 2017
Time: 8.45 am

Pre Market Report:

1. Dow closed above 22000 as Apple shares hit all time high.
2. But there is profit booking in Asia.
3. SGX Nifty hit a low of 10040 but recovered later and now trading at 10067.
4. Yesterday markets behaved as expected, traded between 10120 and 10180 and there was violent move after RBI policy.
5. But the volatility of this kind was not expected after RBI policy.
6. Bank Nifty fell 100 points then shot up 100 points only to fall again 100 points in the last 45 minutes.
7. Bank Nifty future was even more volatile.
8. Still Nifty 10000 PE has the highest open interest.
9. So this may be a normal correction.
10. Despite the weakness in overall markets, Reliance did very well yesterday.
11. In a bull market, when some shares drag, other shares shoot up to minimise the damage.
12. Now the RBI policy is over, markets may go for sideways move and India VIX may fall.
13. India VIX has been rising for the last four days.
14. Surprisingly FIIs were net buyers yesterday in Cash market.
15. But they were net sellers in F&O market.
16. There are no key companies to declare results today.
17. Markets may trade range bound and there may be some sharp reaction towrads the end of the day due to Bank Nifty weekly expiry.
18. Today Nifty future is likley to trade between 10040 and 10120.