Pre Market Report, January 2, 2020 | Stocks and Commodities

January 2, 2020
Time: 8.10 am

Pre Market Report:

1. Yesterday all Globalmarkets closed except India and Saudi Arabia.
2. Our markets traded with volatility due to low volume.
3. Kotak Bank case is coming up on Jan 9. So that stock has been very volatile.
4. Reliance continue to face selling pressure.
5. Most Banks fell yesterday.
6. Auto sales data has not been impressive.
7. Most Auto stocks came under selling pressure.
8. Asian markets are mixed.
9. China cut the reserve ratio for banks.
10. US-China trade is likely to be signed on Jan 15.
11. GST collection is above 1 lakh crore for the month of November.
12. SGX Nifty is down slightly.
13. FII selling was very little, less than 100 crore.
14. Next week, results season will start.
15. Infosys results will be on next Friday.
16. For the last two days, index heavy weights down but broader markets are up.
17. Asian markets were significantly higher in December, 5.6%.
18. But India was almost flat.
19. So we can expect some directional move in January series.
20. I am expecting a break ot after consolidating for few more days.
21. In second half of the series, lot of corporate results are due.
22. Bank Nifty future should take support at 32200 and reistance may come around 32500.
23. Nifty fuyure may trade between 12180 and 12320.