Pre Market Report, Feb 4, 2021 | Stocks and Commodities

 Feb 4, 2021

Time: 8 am

Pre Market Report:

1. US markets ended mixed.
2. Asian markets are mostly trading with negative bias.
3. SGX Nifty is flat with slightly positive bias.
4. There are few reasons for that.
5. One, US Futures are higher, as Apple is up in after markt trades.
6. Two, huge FII buying for second day.
7. Three, DII selling yesterday was very little.
8. Four, Nifty closed about 80 points lower from intraday high.
9. Yesterday, markets came under severe selling pressure in the first few minutes.
10. In 2019, during Nirmala Candle 1, Nifty shot up significantly in two days and markets fell third day.
11. Many people assumed that the same will happen now.
12. So they shorted the markets when markets opened gap up.
13. Nifty fell almost 200 points from opening level.
14. But that fall was bought into, finally markets closed higher than morning opening level.
15. For two more days, Bank Nifty will be in focus.
16. Today SBI results are due.
17. SBI has already shot up from Rs 275 to Rs 340 in last one week.
18. But SBI will declare good results.
19. Tomorrow RBI policy which is also more important.
20. Though RBI is expected to maintain status quo when it comes to interest rates, RBI Governor comment will be watched keenly.
21. Nifty having acheived 14900, now needs a final push from Reliance to kiss 15K.
22. IndusInd Bank shot up more than 20% in last few days.
23. Corporate results so far seems to be good.
24. Bharti Airtel also declared good results.
25. That may have some impact on Reliance and IDEA.
26. Hero Moto will declare results today and it is expected to be good.
27. So Auto sector will also be in focus today.
28. Nifty 14800 straddle was trading around Rs 150 at yesterday's closing.
29. So we can expect Nifty to trde between 14650 and 14950.
30. I have sold it, so I will make some profit if Nifty expires between 14650 and 14950.