Pre Market Report, March 26, 2021 | Stocks and Commodities

 March 26, 2021

Time: 8 am

Pre Market Report:

1. US markets, all three, Dow, Nasdaq, S&P 500, closed in Green after a long time.
2. Asian markets are also stabilisinig.
3. SGX Nifty is higher by about 100 points.
4. Yesterday I mentioned that usually in this kind of markets, Nifty would expire at the lowest point of the series.
5. On a closing basis, yesterday's close was the lowest in March series.
6. Then usually in tis kind of markets, first trading session of the new series will see a good buying.
7. If not, then the downtrend will continuue.
8. So today I am expecting some good buying.
9. However, there will be selling pressure at higher levels.
10. Yesterday itt was a panic selling due to FII sell figure.
11. FIIs have sold for more than Rs 5K crore in just 2 days.
12. DIIs for the first time came in to support the markets.
13. March series, started at 15100, moved between 14250 and 15450.
14. That is a 1200 points range, a big range.
15. April is a 5 week series.
16. Also corporate results will start pouring in from second week of April.
17. There are 4 public holidays in April.
18. So effectively there are 21 trading sessions.
19. Markets are likely to go all over the places again.
20. Usually when a down trend starts, it lasts between 8 weeks and 12 weeks.
21. FIIs starting fresh series with 62% long in Index futures and 38% short.
22. FIIs are also long in Stock Futures 56% and short future 44%.
23. This is considered as light positions.
24. Usually when FIIs start with light positions, markets tend to move higher, at least in the first two weeks.
25. Nifty future may tradebetween 14400 and 14620.