Pre Market Report, January 12, 2017 | Stocks and Commodities

January 12, 2017
Time: 8.30 am

Pre Market Report:

1. US markets closed higher after some volatility due to Trump's speech.
2. Dow is finding huge resistance at 20,000.
3. Nasdaq closed at record high once again.
4. UK markets also closed at recoed high yesterday.
5. So the sentiment is positive in Asia.
6. SGX Nifty is trading at 8422 which is a very positive sign.
7. The rally is on despite IT stocks are not moving.
8. In case, if TCS and Indy results are not bad and if IT also starts moving higher, then Nifty will head towards 8500.
9. IndusInd Bank results has changed the sentiment.
10. Axis Bank, HDFC Bank and Yes Bank are some of the key banking companies that will declare results by the end of this expiry.
11. So the rally in Bank Nifty may continue with huge expectation.
12. Moreover Axis Bank and ICICI Bank has under performed for a long time.
13. There was good buying activity in ICICI Bank yesterday.
14. If these two stocks recover some more ground, Bank Nifty can head towards 19500.
15. Pharma stocks will be the next one after IT stocks to feel the heat of Trump's policies.
16. So clearly cyclicals start out performing and that could be the beginning of a bull market.
17. A big bull run is long over due.
18. It may start anytime and the target for Nifty is 11,000.
19. I have sold huge amount of Put options starting from 7800.
20. Markets are likely to consolidate with positive bias today.
21. Nifty future may trade between 8380 and 8440.
22. 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.
23. DIIs have bought for Rs 1116 ccrores, much higher than what FIIs have sold.