Pre Market Report, April 27, 2018 | Stocks and Commodities

April 27, 2018
Time: 9 am

Pre Market Report:

1. US markets were up as technology stocks bounced back.
2. Asian markets are trading with positive bias.
3. SGX Nifty is also slightly positive.
4. But we need to see the effect of Axis Bank.
5. Maruti and Reliance will be in focus ahead of their results.
6. We are starting the May series with highest open interest among Puts at 10000 and highest open interest among Calls at 11000.
7. That is a broad range of 1000 points.
8. Volatility is likely to be higher in May due to 2 reasons.
9. One, Karnataka state election results.
10. Second, traditionally May series is a correction series.
11. Otherwise, usual data like Core Sector Growth, IIP, Inflation, Manufacturing PMI, Services PMI, US jobs data, etc will influence the markets in the first two weeks.
12. May is a 5 week series.
13. So it is a long and eventful month.
14. Nifty is likely to trade between 10580 and 10680 today.
15. Bank Nifty will not be as bullish as Nifty as all the good Banks have declared results and the remaining banks are not likely to declare good results.