Pre Market Report, January 2, 2014 | Stocks and Commodities

January 2, 2014
Time: 8.55 am

Pre Market Report:

1. Most world markets are closed today also.
2. US future recovered after heavy losses day before yesterday.
3. SGX Nifty is marginally up at 8357.
4. FIIs and DIIs have bought for negligible amount yesterday.
5. Both bought for less than 20 crores each.
6. Action is shifted to broader markets.
7. Housing Finance companies and select Infra companies are moving up.
8. Petrol and Diesel prices were not reduced but excise duty n them were increased.
9. India is a strange country where white petrol used in aeroplanes which is more purified than normal petrol is selling at Rs 52 whereas normal petrol being used by common man is selling over Rs 65 per litre.
10. We have to see how auto stocks react to this news.
11.   Nifty is once again likely to trade range bound but it is difficult to prdict the afternoon trade.
12. Ahead of week end holidays, fear of FIIs rushing in on Monday, there may be some short covering move towards the end of the day by traders.
13. Nifty future will find support at 8280.
14. The resistance will at 8380.