Pre Market Report, January 21, 2020 | Stocks and Commodities

January 21, 2020
Time 8 am

Pre Market Report:

1. US markets closed yesterday.
2. Asian markets are negative as China is struggling with Virus.
3. Hong Kong is down nearly 2%.
4. SGX Nifty is down by more than 50 points.
5. Yesterday I did not expect such a huge fall.
6. Even the companies came out with very good results, like HCL Tech, fell.
7. Bank Nifty fell nearly 850 points from intraday high, led by Kotak Bank.
8. Surprisingly FIIs did not sell in Cash market.
9. It was DIIs who sold for nearly Rs 1400 crores while FIIs have actually bought for about Rs 6 crores.
10. Earlier I said Nifty will be trading between 12000 and 12500 in January.
11. It went close to 12000 during Iran-US issue.
12. Then it went above 12400.
13. Now back to 12200.
14. If Nifty future breaks 12200, then I am planning to take some short positions.
15. This time results are playing, IndusInd Bnak fell almost Rs 300 rupees, nearly 20%, after results.
16. Sold Call options agressively in Bank Nifty, 31500, 31800, 32000CE in weekly.
17. Sold Calls in Nifty at 12400 and 12350.
18. Holding Reliance and Kotak Bank and selling Call options aggressively.
19. Relaince will exit if breaks 1520.
20. Now market has become "Sell on rise".
21. Any intraday bounce, sell Call options.
22. Yesterday's sell off was mainly in few index heavy weights, if that spreads to broader markets, then Nifty will head towards 12K.
23. The picture is not looking good. Usually markets fall like this, next few days, markets are likely to consolidate with negative bias.
24. Nifty future should take support at 12180, falling below may be a disaster.
25. Nifty future will face resistance at 12280.