Pre Market Report, Janauary 9, 2018 | Stocks and Commodities

Janauary 9, 2018
Time: 8.55 am

Pre Market Report:

1. US markets ended mixed.
2. Asian markets are also mixed.
3. SGX Nifty is trading about 30 points higher.
4. Technically markets are looking bullish.
5. The possibility of Nifty making a bigger move is high.
6. For that to happen, corporate results must be good.
7. As I stated earlier, Nifty is likely to trade between 10400 and 11000.
8. I sold lot of Nifty 10200PE, 10100PE and 10000PE.
9. I did not sell any Call option as I am taking a bullish view.
10. In fact, yesterday I bought 1500 quantity of Nifty future in March contract at 10663 and sold 1500 quantity of 10600CE and 750 quantity of 11100CE and 750 quantity of 11200CE, all in March contract.
11. The reason is I am expecting Nifty to trade between 11000 and 11200 by the end of March.
12. HDFC Bank has been under performing, Bank Nifty will breakout when both HDFC Bank and ICICI Bank pick up, as these two banks constitute 50% of Bank Nifty index.
13. Reliance will be another key stock to watch out as they reduced the Jio tariff, firm crude prices is good for Reliance.
14. TCS, Infosys and IndusInd Bank will be in action ahead of their results.
15. FIIs have bought for about Rs 700 crores in Cash market while DIIs have sold for about Rs 200 crores.
16. FIIs have been in buy mode since December 27.
17. FIIs had been selling for the last 5 months of 2017.
18. They may continue to buy for next few months.
19. Buying or selling, they continue to do in huge quantities for an extended period of time, making our markets highly volatile.
20. If the January trend is to be believed, our markets will face another good year.
21. Nifty future may trade between 10600 and 10700.