Pre-Market Report, January 16, 2014 | Stocks and Commodities

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January 16, 2014
Time: 8 am

Pre-Market Report:

1. US markets rose as banking majors started declaring good results.
2. Most Asian markets are trading firmly positive.
3. SGX Nifty is trading around 6350.
4. Caution is required around this level as the markets fell from this level only on Jan 2, 2014.
5. Also in the last many months selling came once Nifty reaches 6380-6420 range.
6. Axis Bank has been weak due to SUUTI sale, today if Axis Bank declares a good result, then there will be short covering in that counter. Otherwise, it can fall towards 1100.
7. Whichever way it moves, it will affect Bank Nifty also.
8. Today and tomorrow, results heavy days, so the markets will be volatile depending on results.
9. ITC, Reliance, Bajaj Auto, HCL Tech, TCS, WIPRO declaring results today or tomorrow form one third of Nifty, so the market movements will be dynamic.
10. Next week VIX is likely to fall and hence the option premiums.