Pre Market Report, August 8, 2017 | Stocks and Commodities

August 8, 2017
Time: 8.30 am

Pre Market Report:

1. US markets closed once again in Green.
2. As I said earlier, this is the longest running bull market not only for India but for entire world markets.
3. Govt. is also taking various steps to cleanup stock market and trying to keep manipulators away.
4. First it was P Note ban in derivatives and now going after shell companies.
5. Asian markets are mostly negative though US markets closed higher.
6. But SGX Nifty is not down, may be because we were down yesterday while others were up.
7. I have huge positions in Tata Steel. Tata Steel came out with good results.
8. Tata Steel was up by more than 4% in London.
9. I will make profit as long as it is trading plus or minus 5%.
10. Yesterday though we closed in Red, Bank Nifty was up and midcaps were also up.
11. The Institutional figures yesterday was similar to last Friday.
12. FIIs were net sellers in both Cash and Derivatives market while DIIs were net buyers in Cash market.
13. There was a report that said derivtives market in India may be allowed to be open even after 3.30 pm, as per report from Business Standard.
14. Only Indices may be trading througout the day just like SGX Nifty.
15. For technical traders, it will be good, as there will be no gap up and gap down and hence they can keep stop losses.
16. Bank of India will be in focus ahead of its results.
17. Nifty future may trade between 10060 and 10140.
18. Global cues is a drag today, so markets may consolidate before resuming the uptrend.