Pre Market Report, January 7, 2014 | Stocks and Commodities

January 7, 2014
Time: 8.55 am

Pre Market Report:

1. After a huge volatile session, Asian markets are stabilising.
2. But the fear is there that Crude oil may crash any time once again.
3. SGX Nifty after trading below 8100, now trading around 8140.
4. US futures are also trading positive.
5. But heavy selling by FIIs in both cash and F&O markets will make any upside movement difficult to sustain.
6. Auto companies will be in focus as most auto companies hiked the prices.
7. Tata Motors may under perform as 1200 luxury vehicles are in a ship that is in trouble.
8. Auro Pharma will be in focus as it has got US FDA approval for one of its drugs.
9. Any recovery will be lead by Auto and Banks.
10. All other sectors look bearish.
11. After a huge fall, markets are likely to consolidate around this level.
12. Today onwards markets will receive lot of data, starting with Crude Oil inventory report tonight from US, ADP Non Farm Payroll data and Fed minutes from USA.
13. Nifty future should take support at 8080.
14. Resistance will be at 8200.
15. But during this kind of abnormal period where markets move minute by minute basis based on crude movement, it will be difficult to predict the market range.