Pre Market Report, April 21, 2017 | Stocks and Commodities

April 21, 2017
Time: 8.55 am

Pre Market Report:

1. US markets were up.
2. Asian markets are also up.
3. SGX Nifty is around 9180.
4. Geo political tensions eased.
5. FII selling subsided.
6. Our markets turned around after many days of losses.
7. Nifty turned around without the help of Banking stocks which dragged the markets down.
8. So today may be a perfect time for short covering.
9. Once again we can expect Nifty future to cross 9200.
10. But Bank Nifty may drag until HDFC Bank declare results.
11. After a long time, three private sector banks were at the bottom 5 performers yesteray.
12. Axis Bank, ICICI Bank and Yes Bank were the worst performers in Nifty pack yesterday.
13. But HDFC bank helped to contain the losses.
14. Since Nifty has shot up from 7900 to 9250, many people expected correction to be severe.
15. But they all forget one thins, Nifty has already corrected from 9000 to 7900 prior to this rally.
16. So now we can expect only shallow correction or timewise correction.
17. From now corporate results will dominate the markets.
18. Sun TV is shooting up as expected.
19. Nifty future is likely to trade between 9180 and 9220 for next few days.
20. Next week Reliance results will decide the further direction.
21. Today Nifty future may trade between 9140 and 9220.