Pre Market Report, January 30, 2018 | Stocks and Commodities

January 30, 2018
Time: 8.45 am

Pre Market Report:

1. US markets were down dragged down by Apple as apple is cutting down the production of iphone x by half.
2. Asian markets are also mostly negative though marginally.
3. SGX Nifty is also down slightly.
4. HDFC came with better results yesterday.
5. After a long time, we are getting good corporate results.
6. We are just two days away from Budget, a key event of the year.
7. I do not expect much activity ahead of the budget.
8. I expect volatile but range bound trade for the next two days.
9. Even yesterday FIIs have slowed down their Cash market buying.
10. DIIs also did not buy much.
11. That was the reason why the rally did not sustain.
12. Highest open interest stands at 10500PE and 11500CE and more shares were added in the open interest yesterday.
13. India VIX was up by 5% in the morning but came down later.
14. Bank Nifty weekly expiry, which is only 3 days away, was trading at huge premiums.
15. I sold 26000PE and 29000CE, yet collected a total premium of Rs 34 per share.
16. Hope both goes to Zero.
17. Nothing much to write as all the action will be reserved for budget day.
18. We can expect Nifty future to take support at 11080.
19. Resistance will be at yesterday's high.
20. Crude oil reversing from US$70 is a good news but fall is not sufficient to trigger buy in Auto stocks.