Pre Market Report, January 11, 2017 | Stocks and Commodities

January 11, 2017
Time: 8.30 am

Pre Market Report:

1. US markets ended mixed once again.
2. Most world markets are trading sideways in January.
3. But we are moving significantly higher, Nifty has already shot up by 400 points in the last two weeks.
4. Yesterday IndusInd Bank turned the sentiment.
5. Both Nifty and Bank Nifty closed at the highest point of the day.
6. FIIs have sold very little in Cash market.
7. Today SGX Nifty indicates the gap up opening.
8. SGX Nifty is trading around 8330.
9. If TCS and Infosys results also go the same way as IndusInd Bank, markets are likely to move significantly higher.
10. Yesterday there was some panic selling in Axis Bank and due to that panic selling, Axis Bank closed lower.
11. If that had not happened, Bank Nifty would have closed even higher.
12. Since we closed slightly higher than 200 DMa and we are opening gap up today, there is a possibility of significant upside movement today.
13. Bank Nifty, in particualr, is likely to move higher as HDFC Bank is breaking out.
14. One may buy Nifty 8000 Put in February and then sell 7800 and below strike Puts.
15. I bought March 8000 Put and sold March 7800 Put double the quantity and January 8000 Put same quantity.
16. Nifty future is likely to trade between 8300 and 8380.