Pre Market Report, July 5, 2018 | Stocks and Commodities

July 5, 2018
Time: 8.50 am

Pre Market Report:

1. US markets were closed for Independence day.
2. So there is no much global cues.
3. Tomorrow the tariff hike will come to effect.
4. So the jitterness continue in Asian markets.
5. SGX Nifty is almost flat.
6. Our markets are in a different path.
7. Given the uncertain Global cues, Nifty's move of about 200 points in two days is an extra ordinary move.
8. Maruti shot up by about Rs 450 in two trading sessions.
9. RIL AGM is due to day.
10. RIL after hitting a high of Rs 1036, fell to Rs 950 and now recovering.
11. I already have gone long at Rs 980 and have a straddle at Rs 980.
12. If it goes up, I am prepared to sell the futures.
13. If it comes down, prepared to buy and average.
14. We can expect some good news from AGM, so the Reliance is likely to support the market today.
15. HDFC Bank after hitting a high of 2135, fell to 2070 and then yesterday recovered to 2100.
16. That was the main contributor to Bank Nifty.
17. Today Bank Nifty is likely to be volatile due to expiry.
18. Bank Nifty is likely to expire between 26200 and 26600.
19. The story will be different if HDFC bank makes a big move.
20. Expect a range bound move in the morning and some sharp move in the last one hour due to Bank Nifty expiry.
21. Nifty future is likely to face resistance at 10850.
22. Support is likely around 10720.