Pre Market Report, April 22, 2019 | Stocks and Commodities

April 22, 2019
Time: 8 am

Pre Market Report:

1. US markets closed higher on Thursday.
2. Many markets are closed today due to Easter Monday.
3. Except China, all Asian markets are in Green.
4. SGX Nifty is trading about 25, 30 points higher.
5. Both Reliance and HDFC Bank results were better than street expectation.
6. We are entering into the last week of expiry.
7. This whole series, markets were consolidating the gain made in March.
8. Earlier I mentioned that Nifty is likely to trade between 11500 and 12000 for this series.
9. We can expect some big moves only in May series.
10. Global cues are very good.
11. But increase in Crude prices is not good for us.
12. Though markets fell on Thursday, FIIs were net buyers in Cash market for over Rs 1000 crores.
13. They have bought in Futures market also.
14. In the last hour of trading on Thursday, all shares fell little bit bringing markets down.
15. That may get corrected today.
16. OMCs will be in focus as Crude prices are higher.
17. Reliance and HDFC Bank will also be in focus due to their results.
18. Since these two stocks have 20% weightage in Nifty, it is very interesting to see how Nifty will react today.
19. Bank Nifty is likely to out perform today as it has under performed on Thursday.
20. Nifty future may trade between 11750 and 11850.