Pre Market Report, July 24, 2018 | Stocks and Commodities

July 24, 2018
Time: 845 am

Pre Market Report:

1. US markets ended mixed.
2. But after the markets closed, Google has declared very good results.
3. Google(Alphabet) is up by more than 3% in after market trade.
4.  Asian markets are mostly positive.
5. Particularly China Hong Kong are doing very well.
6. China may reduce the corporate tax and go for aggressive monetary policy to promote growth.
7. SGX Nifty is almost flat.
8. Yesterday markets broke out.
9. Next logical target is all time high.
10. I was expecting Nifty to expire close to 11200.
11. That is why I did Put calendar at 11200 when Nifty was around 10800.
12. Made good profit with very little risk.
13. Once again July has shown that it is in favour of bulls.
14. Many stocks like Reliance, Yes Bank shot up by more than 20% in July series.
15. Yesterday markets closed at swing high despite HDFC Bank doing very badly.
16. As I said earlier, 10920 to 11120 is the range.
17. Nifty will face resistance at 11120.
18. If that is crossed firmly, then we may see all time high.
19. May be just after Reliance results.
20. If there is any short covering, we may see by the end of this expiry also.
21. Bank Nifty is still 500 points away from all time high.
22. Some out performance is required by PSU Banks.
23. Nifty future may trade between 11020 and 11150.