Pre Market Report, Jan 14, 2021 | Stocks and Commodities

 Jan 14, 2021

Time: 8 am

Pre Market Report:

1. US markets closed slightly in Green after swinging between positive and negative.
2. Asian markets are flat with positive bias.
3. SGX Nifty is higher just be few points.
4. So it is consolidation in Global markets.
5. But here, our markets are hugely volatile.
6. Bank Nifty saved the markets yesterday.
7. Despite, huge volatility, markets closed flat.
8. After market close, both Infosys and WIPRO came with good results.
9. But both stocks are down in US by 1 to 2%.
10. So IT stocks may consolidate as they have run up already ahead of the results.
11. FIIs have resumed their buying in Cash market.
12. They have bought for more than Rs 1800 crores.
13. But DIIs have sold more aggressively, sold for more than Rs 2300 crores.
14. PSU Banks are in full grip of Bulls.
15. SBI was up 5% and many other PSU Banks were up 10% to 20% in last two trading sessions.
16. Bank Nifty tested previous all time high.
17. Then trying to consolidate.
18. Reliance is still under performing.
19. Yesterday, Crude prices were up.
20. Despite that OMCs did very well.
21. FIIs seems to be cutting their long positions in F&O.
22. So in very short term, we may consolidate.
23. There are no trigger for markets in near term.
24. Next trigger could be Biden's Presidency officially starting on Jan 20.
25. He may sign bigger stimulus deal immediately.
26. But the Stimulus bill has to be passed both in House and Senate, it may take few more days.
27. So last week of Jan seroes will see some action.
28. Around that time, Budget speculation will also start in our markets.
29. Expect markets to be volatile, due to weekly expiry.
30. Nifty future may tarde within yesterday's range of 14476 - 14660.