Pre-Market Report, January 20, 2014 | Stocks and Commodities

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January 20, 2014
Time: 8.30 am

Pre-Market Report:

1. US markets closed mixed on Friday.
2. Most Asian markets are down marginally.
3. China GDP data came slightly lower than the expectation.
4. China Manufacturing index also came slightly lower than expectation.
5. SGX Nifty is trading about 15 points lower than our close here.
6. Reliance good results should support the market.
7. Wipro also declared good results and IT stocks also may take support here.
8. This whole week will not be an action packed week.
9. Markets will go up one day come down the next day with small swing of around half a percent.
10. Today Nifty is expected to take support at 6220 and resistance around 6300.

 Recommendation:

1. Sell Ranbaxy 360 Put option and 460 call option.
2. Sell Cipla 400 Put option and 450 Call option.