Pre Market Report, January 9, 2014 | Stocks and Commodities

January 9, 2014
Time: 8.45 am

Pre Market Report:

1. US markets shot up, Dow gained more than 300 points.
2. But Asian markets are mixed.
3. Today's Non Farm Payroll data and Unemployment report from US and Infosys results today evening will influence the markets on Monday.
4. So traders will not carry positions through weekend.
5. So by the end of the day, traders will square off their trades.
6. We do not know whether traders are net long or short.
7. So afternoon trade will be an interesting one.
8. Hopefully, after selling heavily, FIIs may turn net buyers today.
9. There are many 'upgrade' news coming both for country and specific stocks.
10. Tata Steel will be in focus after moody's upgrade. There seems to be heavy short in Tata Steel.
11. Infy will be in focus ahead of its results today evening.
12. Auto stocks are already in good health, they may be in focus ahead of Inflation data next week.
13. Adani Port and Adani Ent. will be in focus as they performed very well even when markets fell. It seems that speculative positions are being build way ahead of budget.
14. There is a news that MAT (Minimum Alternate Tax) will be cut in the budget. This will be very good for IT sector.
15. Banks are likely to lead the rally as usual.
16. SGX Nifty touched a high if 8337, now trading at 8308.
17. Nifty future should take support at 8240.
18. The resistance will be at 8360.