January 12, 2017
Time: 8.30 am
Pre Market Report:
Time: 8.30 am
Pre Market Report:
- US markets closed higher after some volatility due to Trump's speech.
- Dow is finding huge resistance at 20,000.
- Nasdaq closed at record high once again.
- UK markets also closed at recoed high yesterday.
- So the sentiment is positive in Asia.
- SGX Nifty is trading at 8422 which is a very positive sign.
- The rally is on despite IT stocks are not moving.
- In case, if TCS and Indy results are not bad and if IT also starts moving higher, then Nifty will head towards 8500.
- IndusInd Bank results has changed the sentiment.
- Axis Bank, HDFC Bank and Yes Bank are some of the key banking companies that will declare results by the end of this expiry.
- So the rally in Bank Nifty may continue with huge expectation.
- Moreover Axis Bank and ICICI Bank has under performed for a long time.
- There was good buying activity in ICICI Bank yesterday.
- If these two stocks recover some more ground, Bank Nifty can head towards 19500.
- Pharma stocks will be the next one after IT stocks to feel the heat of Trump's policies.
- So clearly cyclicals start out performing and that could be the beginning of a bull market.
- A big bull run is long over due.
- It may start anytime and the target for Nifty is 11,000.
- I have sold huge amount of Put options starting from 7800.
- Markets are likely to consolidate with positive bias today.
- Nifty future may trade between 8380 and 8440.
- FIIs have sold for Rs 627 crores in Cash market but they are net buyers in F&O, stcok future alone, they have bought for Rs 1650 crores.
- DIIs have bought for Rs 1116 ccrores, much higher than what FIIs have sold.
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