Pre Market Report, July 6, 2018 | Stocks and Commodities

July 6, 2018
Time: 8.55 am

Pre Market Report:

1. Yesterday both European and US markets were up as there was some news that there will be some solution for tariff for between US and Europe.
2. But the tariff war continue with China.
3. So Asian markets are still jittery after falling for so many days.
4. Hong Kong opened positive but could not sustain, fell later and trading in Red now.
5. Same was the case with China.
6. SGX Nifty is down by about 30 to 40 points.
7. We have been out performing the Asian markets for the last few days.
8. FIIs have slowed down their sales in Cash market.
9. But yesterday, for the first time after a long time, both FIIs and DIIs have sold in Cash market.
10. But stock specific rally continues.
11. Maruti shot up nearly Rs 600 in two trading sessions.
12. Yesterday's main drag was Reliance which fell nearly Rs 45 after AGM.
13. HDFC Bank saved the day yesterday.
14. Last week I have given a strategy, Bank Nifty 26000PE buy, 25500PE, 25000PE sell double the quantity and sell 26000PE in weekly.
15. That strategy has been doing well. Weekly options became zero.
16. Today we are facing two uncertainties.
17. One the big US jobs data.
18. Second US China trade tariff.
19. China may retaliate during the week end if the tariff come into effect tonight in US.
20. SO it will be interesting to see where our markets close today.
21. Nifty future may trade between 10680 and 10780.