Pre Market Report, February 13, 2014 | Stocks and Commodities

Sponsored by

February 13, 2014
Time: 8.15 am

Pre Market Report:

1. US markets ended mixed, with Nasdaq rising and Dow falling and S&P closing alomost flat.
2. Most Asian markets are down.
3. But we have positive local news here.
4. One, Inflation is at 2 year low.
5. Second, IIP data is better than expected.
6. Third, FIIs have bought after many trading sessions.
7. Fourth, Bank Nifty out performed other indices after many trading sessions.
8. After many trading sessions, a banking stock, ICICI Bank, was the top gainer in Nifty yesterday.
9. Today SGX Nifty has opened at 6145 but fell as Asian markets fell.
10. Nifty future support is at 6080 and resistance is at 6160.

Recommendation:

1. Consider booking profit in Tata Motors.
2. Exit Auro Pharma 400 Put option and sell 450 Put if Auro pharma trades above 500.
3. Sell 5900 Put option and 6300 Call option.