Pre Market Report, January 3, 2019 | Stocks and Commodities

January 3, 2019
Time: 8 am

Pre Market Report:

1. Yesterday Nifty hit a high of 12289 while the all time high is 12293.
2. US markets shot up after year end profit booking.
3. Breaking News: Inranian top commander killed in US air strike in Bagdad.
4. Asian markets are positive despite this breaking news.
5. Crde prices are higher due to this strike .
6. Gold is also higher.
7. This may not be a good news for us.
8. So SGX Nifty is down about 35, 40 points from all time high hit yesterday night.
9. Yesterday LT, Reliance, PSU Banks, Pvt Sector Banks all have done well.
10. Kotak Bank is the only under performer de to court case.
11. Last week I mentioned that Nifty is likely to trade between 12000 and 12500 for firt two weeks.
12. So Nifty took support at the lower end of this range.
13. Nifty 12000PE has the highest open interest among Puts and 12500CE has the highest open interest among Calls.
14. Reliance planning to enetr AMC business lifted the sentiment and Reliance was higher after seeing selling pressure for the last few days.
15. Nifty is just few points away from all time high but Reliance is down by 80 points.
16. Last one week, midcaps are out performing large caps.
17. This trend may continue in 2020.
18. I suggested buying BSE at Rs 485-490, just few days, now it shot up to Rs 530.
19. Most stock market related stocks are doing very well.
20. Nifty future may trade between 12280 and 12400.