Pre Market Report, April 15, 2021 | Stocks and Commodities

 April 15, 2021

Time: 8 am

Pre Market Report:

1. As usual, US markets ended mixed.
2. Asian markets are also mixed.
3. Yesterday Infosys came out with results.
4. But Infosys ADR is down by 6%.
5. Infosys usually make big move after results.
6. Infosys announced buy back, people thought they will buy from retail investors at a fixed price through tender.
7. But they decided to buy from market and that is not a good news for retail investors.
8. But for no reason, SGX Nifty shot up 250 points yesterday.
9. Still, right now, it is trading about 100 points higher.
10. Infosys is expected to fall 4 to 5% and IT stocks will drag the Nifty.
11. Infosys alone may wipe out 40 points from Nifty.
12. Despite that SGX Nifty indicating more than 100 points higher is surprising.
13. Sometimes, we may not follow SGX Nifty.
14. Though markets recovered significantly on Tuesday, FIIs have sold for more than Rs 700 crores in Cash market.
15. Markets are over reacting on both upside and downside.
16. Bank Nifty fell 2000 points on Monday, shot up 1400 points from Monday low to Tuesday high.
17. Today is the expiry of 3rd weekly expiry in April.
18. After todays trading sessions, we have only 9 more trading sessions in this series.
19. Option premiums are likely to fll.
20. Even on Tuesday Nifty shot up 200 points, but Nifty April 15000CE fell by Rs 4.
21. Due to Monday's drastic fall, studying OI is of no use.
22. Pre miums in weekly options are very high.
23. Bank Nifty closed around 31800, but Bank Nifty 31000PE, which is about 800 points lower, trading around Rs 100, just one day before expiry.
24. Even Nifty 14200PE was trading around Rs 18, just one day before expiry.
25. Remember Nifty has not fallen below 14200 in all previous falls.
26. Nifty fell from 14900 to 14300, as per SGX Nifty indication, Nifty would recover 50% of the fall.
27. So Nifty spot should find some resistance around 14600.
28. Corona Virus cases are increasing, India cases shot up from 1 lakh to 2 lakh, in just 10 days.
29. We are in tug of war between positive Global cues and negative Local cues.
30. So our markets are likely to be volatile for next few days.
31. Keeping away from predicting the Nifty levels as markets are likely to be very volatile.