Pre Market Report, Jan 21, 2021 | Stocks and Commodities

 Jan 21, 2021

Time: 8 am

Pre Market Report:

1. US markets closed higher.
2. Biden's inaugration went smoothly.
3. Another even risk is out.
4. CBOE VIX crashed more than 15% in last 3 days.
5. India VIX also came down by more than 10% in last 2 days.
6. It is expected to come down by another 5%.
7. Asian markets are higher.
8. SGX Nifty indicates another all time high open for our markets.
9. Yesterday Nifty hit all time high, when it was expected least.
10. Nifty fell 400 points and shot up equally between last Wednesday and this Wednesday.
11. Our next trigger is budget.
12. Until then, markets may not make big move.
13. Nifty may trade between 14400 and 15000.
14. But we will go into budget with a positive bias.
15. Reliance and Kotak Bank have become very active.
16. Yesterday I took some long positions in Kotak Bank.
17. Auto stocks recovered from recent sell off due to shortage of semi conductors.
18. PSU Banks out performed in last hour of trade yesterday.
19. Bank of Baroda has doubled in last few months.
20. SBI up more than 50% in last few months.
21. Bajaj Twins will be in focus after their results.
22. Huge OI added at 14600PE and 14500PE.
23. So 14600 should be the support for today.
24. Highest OI is at 14700CE.
25. In case if markets move higher, beyond 14700, then these sellers will have to run for cover, propeling the markets even higher.
26. Bajaj Auto, Asian Paints, Reliance will be in focus ahead of their results.
27. Bank Nifty may out perform in the next few days.
28. After hitting previous all time high of 32600, it corrected about 400 points and now trying to to cross 32600.
29. The strength will be more if it crosses 32600 today.
30. Nifty future may trade between 14600 and 14750.