Pre Market Report, April 27, 2020 | Stocks and Commodities

April 27, 2020
Time: 8 am

Pre Market Report:

1. Asian markets are higher.
2. Japan is expanding monetary stimulus.
3. SGX Nifty is above 9200.
4. Crude oil is down.
5. Corona related deaths is coming down in Europe as well as US.
6. Nifty has been consolidating between 8800 and 9400 with huge volatility.
7. Banking and NBFC stocks fell. May be due to Franklin issue.
8. But Reliance has supported.
9. Reliance hit a low of 875 on March 23 and hit a high of 1495 on Friday, almost double in one month.
10. On Friday, markets were highly volatile.
11. DIIs chose to book profits and sold for Rs 994 crores.
12. FIIs also sold for Rs 207 crores in Cash market.
13. China declared Wuhan as Corona Free region.
14. European and US Futures are higher.
15. So there is some kind of optimism everywhere.
16. I will not be surprised if Nifty makes a big move towards 9500 by the end of this week.
17. There are only 4 trading sessions this week.
18. IndusInd Bank declares results today and Axis Bank tomorrow.
19. Both the stocks fell ahead of results.
20. I sold Nifty 9000, 8900, 8800PE and 9300, 9400, 9500CE but bought 9200CE.
21. In Bank Nifty, I sold 18000PE.
22. Hoping that Nifty will trade between 9000 and 9500 and Bank Nifty not to fall below 18000.
23. Despite fall in markets, India VIX did not go up.
24. In fact it fell below 40.
25. Will not be surprised if Nifty future crosses 9300 today.
26. Today Nifty future may trade between 9100 and 9350.