Pre Market Report, January 22, 2020 | Stocks and Commodities

January 22, 2020
Time: 8.10 am

Pre Market Report:

1. US markets closed in Red after a volatile session.
2. Asian markets, however, trading in Green.
3. SGX Nifty is slightly higher by 10, 15 points.
4. We did fall significantly day before yesterday.
5. Then due to Corona Virus, along with Global markets, we fell again.
6. Yesterday I said, if Nifty future breaks 12180, then it is going to be very bad.
7. It took support t 12181.
8. Today morning also, SGX Nifty hit a low of 12183.
9. There was huge OI at 12200PE.
10. A fall below 12180 will invite shorts from these sellers.
11. That will take Nifty to 12120.
12. Anyway there will be strong support between 12100 and 12200.
13. There was huge addition f OI at Nifty 12200CE. So 12250 will be a resistance for this week.
14. Bank Nifty added huge OI in both CE and PE. PEs from 31000 to 30500 and CEs from 31000 to 31500.
15. Since markets have fallen more than 200 points, any time short covering can happen.
16. Any good news, short covering can take Nifty to 12300.
17. L&T, Asian Paints, Axis Bank are set to declare results.
18. But L&T and Axis Bank will declare after trading hours, Asian paint, not sure.
19. After two days of severe fall, markets may consolidate.
20. India VIX keep rising.
21. That has to cool down for markets to stabilise.
22. Even Reliance is not recovering, after such a good results.
23. In the last hour, Kotak Bank covered some lost ground and that supported Bank Nifty.
24. Nifty future may trade between 12180 and 12280.