Pre Market Report, January 14, 2020. | Stocks and Commodities

January 14, 2020
Time: 8.30 am




Pre Market Report:

1. CPI inflation data came much worse than expected.
2. At 7.35%, it is way above RBI comfort zone of 4% plus or minus 2%.
3. But Global cues are good.
4. SGX Nifty hit a high if 12398.
5. Infosys came out with good results.
6. That lifted sentiment.
7. IndusInd Bank also saw short covering rally.
8. IndusInd Bank has corrected by about 25% in last one, two years.
9. Any good result, it can move even higher.
10. I sold 1500 straddle and in some loss.
11. Need to actively manage to come out without loss.
12. Bank Nifty was very volatile yesterday but moved within a range.
13. As I said earlier, Nifty may touch 12500 by the end of this expiry.
14. Highest OI is at 12500 on Call side.
15. Highest OI is at 12000 on Put side.
16. Bank Nifty has under performed Nifty.
17. So it has to out perform for Nifty to reach 12500.
18. Nifty is at all time high now but not Bank Nifty.
19. Now Kotak Bank and IndusInd Bank started doing well but YES Bank fell.
20. ICICI Bank is also finding huge resistance in 540-550 range.
21. Reliance is also finding some resistance around 1560.
22. But broader market is catching up.
23. Mid caps and small caps are doing well.
24. PSU Banks are also not doing well.
25. Anyway the action will be there in the next 13 trading sessions as there are many corporate results are due.
26. I am maintaining bullish view and sold Bank Nifty 31000, 31200, 31500PEs in weekly options.
27. Nifty I sold 12200, 12100, 12000PE and 12450, 12400, 12600CEs, taking rangebound view.
28. 12450CE sold at Rs 80 and up to 12530, there will be no problem.
29. Will continue adjust positions.
30. Nifty future may trade between 12320 and 12420.
31. Bank Nifty may see some knee jerk reaction due to high CPI Inflation.