Pre Market Report, January 30, 2015 | Stocks and Commodities

January 30, 2015
Time: 8.50 am

Pre Market Report:

1. US markets recovered from the low levels and closed significantly higher.
2. So Asian markets are mostly higher.
3. SGX Nifty is trading above 9000.
4. Today Nifty may set the record by crossing 9000.
5. On December 17, Nifty was below 8000.
6. In about a month, Nifty surged more than 1000 points.
7. Along with it, VIX also surged from sub 12 level to close to 20.
8. But the journey was not smooth and one way.
9. There were many rise and fall of more than 100 points in Nifty during intraday.
10. In fact yesterday Nifty rose 100 points intraday and day before yesterday it fell more than 100 points intraday.
11. Coming back to today's trade, HCL Tech has declared good set of numbers, announced bonus issue. So IT stocks will be in focus.
12. ICICI and BoB will declare results. So Banking stocks will be in focus.
13. Ahead of monthly auto sales numbers, Auto stocks will be in focus.
14. As China markets are trading firm and metal stocks are already beaten, meta stocks may rise or consolidate.
15. Nifty may consolidate the gain for next one or two session, then RBI policy will decide the trend.
16. Nifty future should take support at 8950.
17. Resistance will be at 9060.