Pre Market Report, April 13, 2021 | Stocks and Commodities

 April 13, 2021

Time: 8 am

Pre Market Report:

1. US markets closed mixed as usual.
2. S&P 500 was up but DOW and Nasdaq was down.
3. Asian markets are trading firmly in Green.
4. Trade data is expected from China around 8.30 am.
5. SGX Nifty is slightly positive.
6. Since we are not following Global  cues, SGX Nifty can not be trusted.
7. Remember yesterday SGX Nifty opened around 14870.
8. TCS came with good results.
9. But IT stocks in US ADR fell more than what they fell in India.
10. So it will be interesting to see how TCS opens here and closes at the end of the day.
11. Coming back to our markets, the bad news came, markets fell, factored in.
12. What next?
13. As long as there are no increamental bad news on Corona front, markets may stabilise and may recover along with Global markets, if Global markets recover.
14. The uncertainty will make markets more volatile in the short term, so in next couple of days, even if markets move higher, will be met with selling pressure.
15. Banking stocks fell and Bank Nifty turned negative for the Year 2021.
16. RBI Governor pro actively met bankers to discuss the issues.
17. DrReddy shot up 7% as Russian Vaccine is getting approval, DrReddy manufactures that vaccine.
18. Last time, Nifty took support around 14250.
19. Let us see whether Nifty takes support around this level this time.
20. I feel that Nifty will take support between 14200 and 14250.
21. All sectors fell yesterday.
22. At least one or two sectors will have to trade in Green for stability of the markets.
23. Even IT index fell more than 2% yesterday.
24. One way, it is good, if stocks fall before results, even if results are not up to expectation, stocks may not fall much.
25. We will see the price of action in TCS today, to confirm my argument.
26. Usually trading day before the expiry day (Usually it is Wednesday, now it is Tuesday as tomorrow is holiday), markets will be highly volatile.
27. On top, we also have the negative newsflow.
28. IT may support the markets, due to TCS results.
29. Expect volatile session but within a range.
30. Nifty future may trade between 14220 and 14480.