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

Janary 30, 2018
Time: 8.15 am

Pre Market Report:

1. US markets ended mixed with Dow up and Nasdaq down.
2. But after the market close, Apple came with good results.
3. Apple is up by more than 5% in after market trade.
4. Yesterday here, it was all about Cobra trade.
5. Many stocks fell, many banks fell, on speculation that these stocks involved in scam and these banks would have lost money.
6. AT the end of the day, except DHL, rest of the stocks came under short covering.
7. Many stocks like India Bull, Adani stocks, swung more than 25% in last two days.
8. Now that uncertinty is gone.
9. Yesterday Bajaj Auto came with good results during market hours.
10. After the market hours, Bank of Baroda, Axis Bank, Bajaj Fin Serve, HCL Tech all came with good results.
11. But SGX Nifty is flat as SGX Nifty is a confused trade for the last few weeks.
12. When all other stocks started moving, HDFC Bank, Kotak Bank, Reliance came down.
13. Bank Nifty and Nifty PCR are very low.
14. We can expect some short covering today and tomorrow.
15. Nifty max pain is around 10800 and Bank Nifty max pain is around 27000.
16. We can expcet expiry around those levels.
17. Bajaj Auto, ICICI Bank, LIC Housing are some key companies set to declare results.
18. FIIs were net sellers yesterday after bying for 2 days.
19. Today Fed meet ends and Fed is likely to maintain status quo.
20. US-China trade talk begins today.
21. Fed meet, US-China Trade Talk, Budget are three key events in three days.
22. Yesterday's low should be the low for Nifty.
23. As India has already under performed other emerging markets by 10%, if Cobrapost low is broken, then nobody can save Nifty.
24. However markets will be highly volatile for next few days before stabilissing.
25. Nifty started correcting on last year budget and that contines even today.
26. So one year of turbulent markets which is not likely to continue.
27. Nifty future may trade between 10650 and 10780.