Jan 12, 2021
Time: 8 am
Pre Market Report:
- US markets closed slightly lower.
- Twitter suspended Trump's account permanently.
- Facebook, Amazan, Apple also took action against Trump.
- Despite impeachment move against Trump, increase in Corona Virus cases, markets fell slightly only.
- Asian marjkets are mixed.
- SGX Nifty is down by 10 points.
- So markets all over the world are consolidating.
- Here Banks, NBFCs, Reliance fell.
- IT and Auto did very well.
- Maruti, yesterday, fell 200 points from opening high, then shot up 350 points from there.
- The swing is too high.
- Tata Motors shot up due to the rumour that Tata is collabrating with Tesla.
- Company has denied the rumour.
- Even Nifty future moved between 14400 and 14500 with big swings.
- When everyones focus was on TCS, Infosys shot up 5%.
- Banking stocks will be in focus ahead of CPI Inflation data today evening.
- Reliance will also be in focus as it has closed below 1900.
- 1900 is considered as important support as it is 25% below recent high.
- FIIs have bought for more than Rs 3139 crores in Cash market.
- DIIs have sold for Rs 2610 crores.
- This big buying and big selling makes market volatile.
- And that is likely to continue, going forward.
- That is why I say, any fall of more than 100 points intraday is a buying oppotunity.
- This week focus will continue in IT stocks.
- Next week focus will turn to Banks as HDFC Bank declares results on Saturday.
- RBI report says NPAs may increase in Banks.
- We need to see how Banking Stocks react to this news.
- Expecting some consolidation with volatility.
- Premiums are attactive as India VIX is up more than 8%.
- Nifty future may trade between 14400 and 14520
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