Pre Market Report, Jan 18, 2021 | Stocks and Commodities

 Jan 18, 2021

Time: 8 am

Pre Market Report:

1. US markets fell on Friday.
2. Asian markets are down.
3. SGX Nifty is trading around 14400.
4. Clearly, it is a profit booking phase.
5. Stocks are falling despite good results.
6. Here Infosys and HCL Tech fell after good results.
7. Today, we have to see how HDFC Bank trades.
8. HDFC Bank has declared good results during the weekend.
9. Today US markets are closed.
10. China has declared better than expected GDP data and Industrial production data.
11. Both China and Hong Kong markets recovered from their lows.
12. FIIs have bought for Rs 971 crores.
13. But DIIs have sold equally, for Rs 942 crores.
14. FIIs are unwinding in F&O also.
15. Their Index Future long is at 67% Vs 82% few days before.
16. I am turning cautious and selling Call Options above 14700.
17. I will turn bullish only when 14660 is taken out on the higher side.
18. Since today is a trading holiday in US, we are likely to have muted Global cues tomorrow.
19. So it is better to sell Weekly options.
20. Even weekly 14700CE is trading around Rs 44.
21. If HDFC Bank opens positive and hence Bank Nifty, I will look to sell Bank Nifty options above 33500.
22. Bank Nifty 33500CE is trading around Rs 60.
23. Reliance, as usual Volatile between 1900 and 2000.
24. Markets may consolidate with negative bias.
25. But India VIX may continue to move higher.
26. Focus will turn to stocks that are declaring results this week.
27. Bajaj Twins, Bajaj Auto, JSW Steel are some important companies set to declare results this week.
28. Auto stocks may be in focus due to semi conductor shortage.
29. HDFC Bank and IT stocks will be in focus.
30. Nifty fututre may trade between 14350 and 14500.