Pre Market Report, January 15, 2020 | Stocks and Commodities

January 15, 2020,
Time: 8.30 am




Pre Market Report:

1. Yesterday US markets ended mixed.
2. Asian markets are also mixed.
3. SGX Nifty trades slightly lower.
4. Yesterday Bank Nifty under performed due to higher CPI inflation.
5. IndusInd Bank shot up due to good result and then fell drastically as NPA increased.
6. HDFC Bank supported the Bank Nifty.
7. Otherwise fall would have been much more.
8. Today US and China signing agreement.
9. But profit booking happening everywhere.
10. So it is a classical case of "Buy on romour and sell on news"
11. Nifty also hit all time highe yesterday.
12. Reliance, Kotak Bank, ICICI Bank, SBI all down, yet Nifty was up.
13. The broader market is doing well.
14. In fact broader markets are doing well for the last one month.
15. Yesterday both FIIs and DIIs were net sellers in Cash market.
16. FIIs sold for Rs 205 crores and DIIs sold for Rs 642 crores.
17. Next set of results will come in the weekend.
18. TCS, HCL Tech, Reliance on Friday and HDFC Bank on Saturday.
19. Good results of these companies can take Nifty to 12500.
20. Markets may consolidate until then.
21. Bank Nifty is looking weak, so I sold 32500, 32600, 32700CE in weekly options.
22. Nifty future may trade between 12300 and 12420.