Pre Market Report, April 07, 2021 | Stocks and Commodities

 April 07, 2021

Time: 8 am

Pre Market Report:

1. US markets closed modestly lower.
2. But Asian markets are mixed.
3. Dollar Index is down slightly.
4. SGX Nifty is almost flat.
5. Our markets moved higher by about 50 points, in the last 15 minutes yesterday.
6. Considering this, even small gap up of 30, 40 points also good.
7. FIIs have sold for Rs 1093 crores in Cash market.
8. However DIIs have boght for Rs 417 crores.
9. Yesterday our markets were hugely volatile.
10. Bank Nifty particularly moved more than 1000 points in first few monutes.
11. Today is RBI policy.
12. So Bank Nifty is likely to maintain its volatility.
13. One good thing is that RBI Policy is at 10 am.
14. Volatility may go down in Bank Nifty after that.
15. Yesterday Reliance has under performed.
16. Markets are likely to be weaker as long as FIIs keep selling in Cash market.
17. IMF increased the India GDP by 100 basis point.
18. Their expectation is that our Economy will do very well next year.
19. That is some good news for long term investors.
20. Many blue chip stocks have fallen 15 to 20%.
21. One can consider, buying some of the bluechips.
22. But must be ready to buy and average, if they fall another 15 to 20%.
23. I have bought Bajaj Finance when it fell below 5000.
24. I will be ready to buy and average if it falls to 4500.
25. Huge OI added at 14800CE and 15000CE.
26. Nifty is likely to trade between 14500 and 14900, but markets may be highly volatile.
27. HDFC Bank and ICICI Bank looks very weak, some recovery is required in these to stocks for Bank Nifty to out perform.
28. Bank Nifty has been under performing for the last few days.
29. Usually Wednesday trades are highly volatile, today RBI Policy will add to that volatility.
30. Nifty future may trade within yesterday's range, 14600-14850.