Pre Market Report, January 25, 2019 | Stocks and Commodities

January 25, 2019
Time: 8.25 am

Pre Market Report:

1. US markets closed mixed.
2. But Asian markets are all in Green.
3. SGX Nifty is trading around 10935.
4. After closing below 10900, Nifty future is likely to open above 10900 today.
5. Whether it will close above 10900 or not is a million dollar question.
6. Yesterday Bank Nifty was very weak, at 3 pm, Yes Bank results and news about its new Chairman came, Yes Bank shot up 20%.
7. That alone contributed more than 200 points to Bank Nifty rally.
8. Later due to last half an hour weighted average close, Yes Bank closed at Rs 215 while actual close is Rs 225.
9. Because of that Index contribution show 111 points in Bank Nifty.
10. Today we have to see how it opens.
11. Yesterday also FIIs have sold but very little amount.
12. Relince hit 52 week high in a weak market, in fact that was the first stock to recover from the lows.
13. Yet that was also very volatile.
14. Auto stocks are very weak.
15. Today Maruti results are due.
16. We have to whether that changes the sentiment in auto sector.
17. Markets tend to make big moves in the last few days.
18. Moreover Jan 30, 31, US-China meeting regarding Trade Deal will make markets to move violently on either side.
19. Feb 1 is budget, so next week, pre budget speculation will also increase.
20. Yesterday though markets were very weak, India VIX was down.
21. When Nifty future was at 10950, Feb. Nifty 10000PE was at Rs 35, yesterday when Nifty future was at 10880, it was around Rs 25.
22. All option prices came down.
23. So be ready for some big moves.
24. I will not be surprised if Nifty crosses 11000 by the end of this expiry.
25. Nifty future may trade between 10880 and 11000 today.
26. Bank Nifty will be in focus as Yes Bank shot up and most of other banks closed at low yesterday.