Pre Market Report, July 16, 2018 | Stocks and Commodities

July 16, 2018
Time: 8.55 am

Pre Market Report:

1. Asian markets are mixed.
2. Japan is closed.
3. China GDP came as expected.
4. Yet both China and Hong Kong are weak.
5. SGX Nifty is almost flat.
6. Trade deficit widened as per the data released on Saturday.
7. Infy results did not meet the street expectation and Infy ADR is down by 3%.
8. We broke out of the range 10600-10850 last week.
9. So we may go for consolidation for the next few days.
10. Next set of Results may decide the direction of the market.
11. Kotak Bank, Yes Bank, Maruti, ICICI Bank all set to declare results later in the week.
12. HUL will declare results today but it is not an index heavy weight.
13. My expectation is that market will consolidate for the next few days and then will make a big move 200 to 300 points on either side by the end of this expiry.
14. If corporate results are good, the move will be on the upside.
15. But prices have run up expecting good results, example, Kotak Bank.
16. Nifty range seems to be 10800-11200 as of now.
17. Bank Nifty will see the action this week as 3 private sector banks will declare results.
18. DCB results were not good, NPA is higher.
19. Crude is slightly doown, European and US future are slightly higher.
20. Nifty future may trade between 10980 and 10080.