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

 April 26, 2021

Time: 8 am

Pre Market Report:

1. US markets closed higher on Friday.
2. Asian markets are mostly higher.
3. Japan is down slightly as it declared Covid Emergency in big cities.
4. On Friday, Nifty came under selling pressure from intraday high and Nifty fell nearly 200 points from high.
5. FIIs have sold for more than Rs 1300 crores in Cash market.
6. This is the fourth consecutive day of huge selling by FIIs.
7. ICICI Bank fell ahead of its results.
8. SGX Nifty is higher, trading above 14400.
9. In fact, today is the first Monday, in last four Mondays, Nifty is likely to open higher.
10. Last  three Mondays, Nifty fell more than 400 points intraday.
11. Reducing cases in Maharastra and International help are some positives on Corona front.
12. This week is going to be stock specific action week.
13. Lot of Nifty 50 companies are set to declare results.
14. Today ICICI Bank will react to its numbers.
15. Despite so much of bad news from Corona, we are still positive in April Series.
16. On Friday, Option premiums were very high due to the Fear of Monday Mayhem.
17. Today, India VIX is likely to fall as this fear will be out.
18. If a stock has fallen so much in recent times, than stock may see short covering as soon as the results dates are declared.
19. Reliance has declared the date for results, that is coming Friday.
20. So it will be interesting to watch Reliance today.
21. Surprisingly, during this fall, FIIs did not create huge short positions.
22. In fact, even on Friday, more Puts were sold than Calls.
23. FIis open interest indicates more Call buying than Put buying.
24. Clearly smart people are not seeing any big danger in the short term.
25. Even in long term, they are not seeing any big danger.
26. Nifty December expiry 15000 short straddle, premiums keep going down on a day to day basis.
27. More than Rs 500 premium lost in that straddle in last one or one and half months.
28. But we can expect Volatility to continue for some more time.
29. Bank Nifty will be in focus.
30. Nifty future may trade between 14280 and 14480