Pre Market Report, February 5, 2014 | Stocks and Commodities

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February 5, 2014
Time: 7.30 am

Pre Market Report:

1. US markets rose finally.
2. Most Asian markets are up.
3. SGX Nifty is trading slightly up.
4. Though Asian markets are up, they recovered only one third of what they lost yesterday.
5. But we did not loose yesterday, so our up move will be very limited.
6. After seeing sell figure of over 1300 crores by FIIs, who wants to buy?
7. After seeing such a dramatic recovery yesterday, who wants to short?
8. So it is going to be more or less neutral game.
9. Tech Mahindra declared very good results yesterday after our markets closed.
10. That should give some support to IT stocks which were beaten down yesterday.
11. Ranbaxy, BHEL and Power Grid will declare results.
12. Nifty future should find support at 6020 and resistance will be at 6080. 

Recommendation:

1. Sell Nifty 5600 Put option and 6400 Call option.
2. Sell Bank Nifty 9000 Put option and 11500 Call option.