Pre Market Report, January 29, 2015 | Stocks and Commodities

January 29, 2015
Time: 8.55 am

Pre Market Report:

1. US markets fell over night after a good start.
2. Nasdaq fell despite Apple rising by more than 5%.
3. Probabily people smell something out of Greece.
4. Here it seems that some people knew about Coal India Rs 24000 crore issue which is to hit the markets tomorrow.
5. That will suck the liquidity of almost 4 billion from the markets.
6. So short sellers would have smelled this and decided to short Bank Nift which was on fire anyway.
7. SGX Nifty is trading about 25 points lower at 8880.
8. Though markets will be lower in the first half, afternoon trade will be difficult to predict due to expiry related issues.
9. Nifty can expire anywhere between 8820 and 8980.
10. Asian markets are down but marginally except China. So metal sector likely to under perform again.