Pre market Report, Jan 20, 2020 | Stocks and Commodities

 Jan 20, 2020

Time: 8.10 am

Pre Market Report:

1. US markets closed higher.
2. Nasdaq out performed.
3. Asian markets are mostly higher.
4. Some Asian markets like Japan are down.
5. Netflix is higher in after market trades.
6. So Nasdaq futures is out performing.
7. But SGX Nifty is down.
8. At some point it was down about 100 points.
9. People are wondering how Nifty shot up so much without any Institutional participation.
10. Yesterday, it was a non stop rally.
11. Bajaj Twins, Kotak Bank were up due to short covering.
12. Reliance continued to move higher.
13. You may remember, earlier I mentioned that Reliance will move higher if it crosses 2000.
14. FIIs bought only for Rs 257 crores.
15. That is very little buying.
16. But at the seame time, DIIs also reduced their selling pressure.
17. They sold just for Rs 199 crores.
18. When the entire market was moving higher, Reliance, HDFC Bank, Kotak Bank fell.
19. Now when entire market is coming under profit booking, these 3 stocks are out performing.
20. Dollar Index is inching down.That is good for emerging markets.
21. It is time for us for consolidation after huge moves on both sides.
22. In fact, usually Wednesday trades are highly volatile.
23. Since we have already seen huge volatility in last two days, today's trade may not be that volatile.
24. Both in India and US, VIX is on the down trend.
25. That is very good for Option writers.
26. Nifty 14000PE closed above Rs 40 day before yesterday, closed below Rs 5 yesterday.
27. In fact, Nifty 13500PE traded at Rs 10, the day before yesterday.
28. Next week, due to one day holiday, we have only 4 more trading sessions after today.
29. So Option prices may start moving lower.
30. Bank Nifty will be in focus after Kotak started moving higher.
31. Reliance will be in focus ahead of its results tomorrow.
32. Bajaj Twins, Bajaj Auto will be in focus ahead of their results today and tomorrow.
33. Nifty future may trade between 14460 and 14600.