Pre Market Report, July 23, 2018 | Stocks and Commodities

July 23, 2018
Time: 8.55 am

Pre Market Report:

1. Most Asian markets are down after Trumps comment about US$500 billion tariff.
2. Crude is also down slightly.
3. SGX Nifty is trading slightly negative around 10030.
4. On Friday our markets closed firmly.
5. As I stated earlier, our markets are likely to consolidate between 10920 and 11120 until expiry.
6. Some good triggers needed to break the range.
7. Kotak Bank fell after the results and that prevented Bank Nifty from breaking out.
8. Next result from the banking space is YES Bank coming Thursday.
9. Yes bank also shot up from 330 to 390 in this series,
10. Any slight disappointment, stock may fall 5 to 10%.
11. Then on Friday ICICI Bank result is due.
12. HDFC Bank results did not meet the street expectation, we have to see how this stock performs today.
13. European and US futures are down.
14. So we may consolidate further.
15. Corporate results will guide the US markets also.
16. Many key corporate results are due this week.
17. Nifty future may trade between 9980 and 1080.
18. There is delay in writing this report as I was sleeping until 8.30 am due to Bangalore weather.