Pre Market Report, January 1, 2014 | Stocks and Commodities

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Janauary 1, 2014
Time: 8.45 am

Pre Market Report:

1. US markets rose.
2. Nifty fell two times in the last two days after touching 6380.
3. The more number of times it touches 6380, possibility of break out is higher.
4. So we expect the break out sometimes in the first week or second week of January.
5. Infosys results will be declared on 10thand pre results rally may happen in this counter.
6. Gold crashed to US$1182 per ounce in yesterday's trade and that was the lowest level in 2013 and then recovered to close at US$1205.
7. Most of the markets are closed today in Asia, Europe and America.
8. So in the absence of global cues, big moves are not expected.
9. Who knows? Sometime people who want to buy in huge quantities will be looking for this kind of opportunities and markets can shoot up along with short covering.
10. This has happened a number of times.
11. Markets fall when nobody expect and the markets rise also when nobody expects.
12. Today's resistance for Nifty future is at 6400.
13. Today's support for Nifty future is at 6320.

Recommendation:

1. Sell Nifty 6000 Put option and 6800 Call option.