Pre Market Report, January 8, 2014 | Stocks and Commodities

January 8, 2014
Time: 8.50 am

Pre Market Report:

1. Yesterday's markets were also higly volatile.
2. Yeserday' low should be the low for January series.
3. High volatility happens either at the upper band or at the lower band of the trading range.
4. Yesterday's huge volatility and the fact that markets are down in the last few days indicates that yesterday's low should be the low for January series.
5. Let us see whether this happens.
6. One of my friends told me that Bank Nifty should take support at 18300.
7. Bank Nifty went close to that level many times yesterday but did not break.
8. He also told me that I should not be surprised if Bank Nifty touches all time high in January series.
9. Reaffirming these predictions, today Nifty future is likely to open above 8200.
10. Economic data that came from US were very good so US markets shot up.
11. Still runaway rally is ruled out here today as FII selling of more than 1000 crore yesterday will keep the traders uneasy.
12. Nifty future is expected to trade between 8140 and 8260.