Pre Market Report, January 28, 2019 | Stocks and Commodities

January 27, 2019
Time: 8.15 am

Pre Market Report:

1. We are enetering into the last week of 5 week expiry.
2. Lot of action is expected this week.
3. Corporate results, US Govt shut down coming to an end, US-China Trade talk on Jan 30, 31, pre budget market move, all will happen this week.
4. There are lot of stock related news today.
5. ICICI Bank will be in focus as IT officer who is handling Chandha Kochar case is transferred.
6. Zee came to a settlement with lenders and having a con call at 8.30 am.
7. Auro Pharma medicine has been called back.
8. L&T came with good results on Friday.
9. Mindtree and CCD will be in trouble due to IT order not to sell their shares.
10. Market sentiment has changed in one day by DLF and Zee news.
11. But FIIs have have bought heavily in CAsh market on Friday.
12. They were net buyers in Index futures also heavily.
13. That may offer some cushion on the downside.
14. Asian markets opened with a positive not but struggling to hold on to the gains.
15. SGX Nifty is trading slightly positive but lower than Friday's close.
16. European and US futures are trading lower.
17. Axis Bank, HDFC, Bajaj Finance, Bajaj Finserve, HCL Tech all will be in focus ahead of results.
18. Only Reliance and Infosys are holding the markets from collpasing.
19. MSCI Emerging markets index is up by 7% in January while we are down nearly 2%, thereby under performing the emerging markets by 9%.
20. Midcaps are in a very bad situation, after losing nearly 30% in 2018, now down another 5%.
21. In the last few weeks Nifty took spport around 10750 and found resistance around 10950.
22. That may continue for next few days also.
23. Unless some aggressive buying comes from DIIs, markets are not going to recover.
24. Nifty has not gone anywhere in the last two months.
25. Nifty future may trade between 10780 and 1900.