Pre Market Report, January 28, 2016 | Stocks and Commodities

January 28, 2016
Time: 8.30 am

Pre Market Report:

1. US markets were volatile due to Fed event and closed lower.
2. The fall was not just because of Fed, it was mainly due to Apple which fell 6.6% and Boeing which fell 8.9%.
3. But after the market hours, Twitter an Facebook declared better results and US futures are higher now.
4. All Asian markets are up except China which is volatile as usual.
5. Japan's Nikkei index shot up 300 points from intraday low.
6. Yesterday night, SGX Nifty hit a high of 7488.
7. But now it is trading around 7450.
8. So Nifty is likely to trade between 7400 and 7500 until 2 pm and there may be some sharp move on either side in the last one hour.
9. If there is any short covering, Nifty may expire between 7480 and 7520.
10. On the other hand, if Europe opens negative and sentiment turns bearish, there may be further shorting and Nifty may expire between 7380 and 7420.
11. Maruti will declare results during the markets hours and ICICI will declare results only after the market hours.
12. So we can expect less volatility in Bank Nifty due to this.
13. HDFC's results were not impressive.
14. The whole of January series was volatile, so expiry dy will be no exception.
15. So be ready for another roller coaster ride.