Pre Market Report, January 31, 2020 | Stocks and Commodities

January 31, 2020
Time: 8 am




Pre Market Report:

1. US markets closed in Green after opening in Red.
2. So Asian markets are higher.
3. Sentiment improved after China Manufacturing PMI data, which came at 50.
4. That figure is in line with expectation but this data was taken before the Corona Virus break out.
5. Hong Kong markets opened with more than 300 points higher but quickly sold into.
6. Now it is less than 100 points higher.
7. Taiwan is up by 1% after falling 6% yesterday.
8. The focus now is on budget in India tomorrow and China market open on Monday.
9. I have already given my view in blog about my budget strategy.
10. I have already closed all positions in most of my accounts.
11. Only few accounts holding some long positions which I have to hedge today or tomorrow.
12. Kotak Bank has come into some kind of settlement with RBI.
13. So we need to see how that stock is reacting.
14. Reliance has been hugely under performing, lost nearly 10% after results.
15. January, results month, has not gone well.
16. Even companies that came with good results like Reliance, ICICI Bank, fell.
17. If I am not wrong, only Infosys and L&T are firm after the results from Nifty 50 pack.
18. HUL, ITC, Vedanta, SBI are set to declare results today.
19. We are going into February series with very light positions.
20. FIIs also keep only 17% long positions in index Futures.
21. If budget and Corona Virus are not bad, then this will be the perfect ground for a big rally.
22. SGX Nifty is slightly higher.
23. I prefer to be cautious for next two trading sessions.
24. I prefer to play intraday today and tomorrow with SL.
25. Nifty future may trade between 12240 and 12160.