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Pre Market Report, January 30, 2014

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January 30, 2014
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January 30, 2014
Time: 8.40 am

Pre Market Report:

  1. Fed has tapered, contrary to our expectation.
  2. All emerging markets currencies are falling.
  3. Indian Rupee is trading closer to Rs 63 in overseas markets.
  4. Brazil and South African currencies touched 5 year low.
  5. Nifty once again likey to open gap down by 90 points.
  6. Nifty should take support at 6020.
  7. Nifty has been trading in the range of 6000 to 6400 for the past many months.
  8. So the markets may find support around 6000 even for position trading.
  9. US markets are also falling continuously and may find support somewhere around here.
  10. In US financial results are not good by most of the companies.
  11. Here the financial results are ok.
  12. If there is any short covering towards the end of the day, Nifty may expire around 6080 and if there is any panic selling by FIIs then it may expire around 6020 or even 5980. 


Written By

Options Trader and Trainer

Comments

  1. Unknown30 January 2014 at 09:45

    may i know here nifty is spot or future

    ReplyDelete
    Replies
    1. P R Sundar31 January 2014 at 18:06

      If I write "Nifty future" then it is for Nifty future, if I write simply "Nifty" then it is for Nifty spot. Anyway in the last few days they were trading at the same level.

      Delete

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