Pre Market Report, April 12, 2021 | Stocks and Commodities

 April 12, 2021

Time: 8 am

Pre Market Report:

1. On Friday, US markets closed at record high.
2. But Asian markets are mixed.
3. China and Hong Kong are down as Alibaba was fined US$2.8 billion.
4. This probably the highest fine for any corporates in China.
5. SGX Nifty is down by about 150 points.
6. There was a news that Maharstra will go for 15 days of complete lock down.
7. But now they have not taken any decision.
8. According to Health Minister of Maharastra, they may take a decision after April 14.
9. In fact, last Monday, as soon as markets opened, Nifty fell 400 points.
10. The reason is the same, restrictions announced by Maharstra Govt.
11. So clearly as I mentioned earlier, we are caught between good Global cues and bad local cues.
12. This corona related bad news will dominate our markets for some more time.
13. Focus will turn to IT stocks.
14. Today evening, TCS declares results.
15. Infosys is planning share buyback.
16. That is a positive news for Infosys.
17. Banking stocks may continue to under perform.
18. Reliance continue to under perform.
19. SGX Nifty has fallen about 150 points from the opening level today.
20. We have only 3 more trading sessions this week.
21. Nifty 15000CE has seen huge addition in OI.
22. More Calls are written than Puts.
23. So markets are clearly showing bearish trend in short term.
24. Large Caps and Banking and Financials are under performing.
25. IT, Metals, Parma are out performing.
26. Nifty has been making violent moves between 14250 and 15450.
27. That is likely to continue for some more time.
28. While writing this blog, SGX Nifty is teating 14700.
29. Expect volatility, expect India VIX to shoot up.
30. Nifty future may trade between 14680 and 14880.