Pre Market Report, February 5, 2015 | Stocks and Commodities

February 5, 2015
Time: 8.25 am

Pre Market Report:

1. China cut the rates by 50 basis points just after our markets closed yesterday.
2. Also US markets were trading in green.
3. So SGX Nifty was up by around 60 points yesterday night when I wrote 'Post Market Report'.
4. But later, ECB banned Greek Govt. bond as collateral as the fear Greek Govt. may default.
5. That news created panic in the US markets and suddenly fell in the last 30 minutes just like our markets. (Who knows some FIIs knew this yesterday afternoon itself and that could be the reason for the sharp fall i the last 35 minutes here).
6. HDFC Bank announced the 10000 crore issue as expected.
7. Banks may under under pressure but marginally.
8. As I have mentioned earlier, since Bank Nifty has given up 61.8% of the last leg of the rally, Bank Nifty should bottom out somewhere here.
9. In fact, that was the case until 2.55 pm and the last 35 minutes trade spoiled it.
10. But yesterday Nifty broke the previous day's low was not expected.
11. Markets may consolidate with downward bias until Delhi election results.
12. One may sell Nifty 9100 Call option to gain from this downward bias whenever there is intraday bounce.
13. Nifty future is expected to trade between 8720 and 8840.