Pre Market Report, January 04, 2021 | Stocks and Commodities

 January 04, 2021

Time: 8 am

Pre Market Report:

1. US markets closed higher on Friday.
2. But today, Japan opened more than 1% lower as the new lockdown fear dragged the markets down.
3. But other Asian markets are doing well.
4. China and Hong Kong opened lower due to US plan to delist China Oil Industries.
5. But both recovered quickly to trade positive.
6. Cina Caixin Manufacturing PMI came at 53.
7. Ours will be out at 10.30 am.
8. Over the weekend, Monthly Auto sales data came positive.
9. Tata Motors sales increased by 84%.
10. So SGX NIfty is trading around 14100.
11. That indicates a freash All Time High opening for Nifty.
12. The real game will begin from today.
13. Today's FII figures will be very important.
14. Though everything looks positive, there are some minor negatives also.
15. SEBI fine on Reliance Industries.
16. But who knows, Reliance may shoot up today as the fine is too small.
17. Probably Reliance has not been performing due to this issue only.
18. India approving two vaccines for Corona is also a good news.
19. On Friday, there was significant addition of OI at Nifty 14000PE.
20. Such an increase at ATM Put is showing too much bullishness.
21. If Reliance and HDFC Bank start performing, then markets will be too bullish.
22. Reliance and HDFC Bank alone contribute more than 20% for Nifty.
23. But both the stocks have been under performing for the last few weeks.
24. For intraday, any fall towards 14K is a buying opportunity.
25. For positional, any fall towards 13800 is a buying opportunity.
26. Now the focus will turn to Banking, Reliance and IT stocks.
27. I am following some technical analysis.
28. As per that analysys, most Pvt Sector Banks are on the long side.
29. I have long positions in all Pvt Sector Banks.
30. Nifty future may trade between 14020 and 14180.