Pre Market Report, August 1, 2018 | Stocks and Commodities

August 1, 2018
Time: 8.55 am

Pre Market Report:

1. Yesterday July was over.
2. From June low to July high, Nifty was up by about 9%, just like last 12 years.
3. Today, we begin August month with some optimism.
4. SGX Nifty hit a high if 11420.
5. But HDFC Bank ADR down by 2.5% is something bulls will have to worry about.
6. Tata Motors ADR is down by 6% after results.
7. Reliance own the arbitration case with ONGC.
8. It was on fire yesterday, market cap of Reliance overtook TCS.
9. Bank Nifty is likely to be volatile due to RBI policy.
10. RBI policy is likely to be non event.
11. I expect RBI to maintain status quo.
12. Other usual data like Monthly auto sales data, Manufacturing PMI data, Services PMI data will drive the markets in the next few days.
13. US-China trade sentiment also improving.
14. Apple came with good results and up by 4% in after market trades.
15. So Nasdaq futures are up, though Dow futures and S&P 500 futures are down slightly.
16. Key stocks to watch: Banking stocks, Maruti, Tata Motors.
17. Nifty future took support at 11290 yesterday.
18. Today we can expect Nifty future to trade between 11320 and 11420.