Pre Market Report, Jan 15, 2021 | Stocks and Commodities

 Jan 15, 2021

Time: 8 am

Pre Market Report:

1. US markets closed marginally lower.
2. Asian markets are mixed.
3. Biden announced the details of US$1.9 trillion Covid Stimulus Plan.
4. But markets fell in most countries.
5. This is the classical example of "Buy on Rumour and Sell on News"
6. But the selling is not severe, just a small profit booking.
7. SGX Nifty is down by 50, 60 points.
8. When TCS came out with results, it did not go up but Infosys went up.
9. When Infosys came out with results, it did not go up but TCS went up.
10. Overall IT index is consolidating and that is good after such a stellar run.
11. Bank Nifty is also consolidating after hitting all time high.
12. PSU Banking Pack is looking very strong.
13. Just few weeks before SBI was below Rs 200 and now above Rs 300.
14. Two weeks are over in Jan series.
15. Nifty is up by about 600 points.
16. For the rest of the series, markets are likely to consolidate.
17. We have only 9 more trading session, as there is one public holiday.
18. Yesterday, India VIX was slightly down.
19. Both Call and Put Options premiums fell.
20. FII buying continues.
21. FIIs have bought for Rs 1076 crores.
22. Surprisingly DIIs sold very little.
23. They have sold for Rs 188 crores.
24. Reliance has been volatile between 1900 and 2000.
25. So better to take a directional view if any of these levels breached.
26. NBFCs, particularly Bajaj Twins looking very weak.
27. Their results are due next week.
28. So difficult to short ahead of the results.
29. Just look at Sun TV Option Chain, all PEs and CEs shot up.
30. So something is cooking in that counter.
31. As long as Wednesday's low is not broken, markets can recover from lows.
32. But upside may be limited.
33. So ebven today, we can expect an inside candle.
34. Nifty future may trade between 14476 and 14660.