Pre Market Report, April 27, 2021 | Stocks and Commodities

 April 27, 2021

Time: 8 am

Pre Market Report:

1. US markets ended mixed.
2. Nasdaq was higher as key Nasdaq components will be declaring results this week.
3. After US markets closed, Tesla came out with good resulyts.
4. In US, corporate results are very good so far.
5. But Asia is mostly marginally lower.
6. SGX Nifty is almost flat.
7. Yesterday ICICI Bank and Reliance helped the markets to stay hgher.
8. Today Bajaj Finance, Maruti, Axis Bank will be declaring results.
9. Axis Bank will declare results after market hours.
10. Maruti and Bajaj Finance are likely to declare results during market hours.
11. Last three weeks, on every Monday, Nifty fell more than 400 points.
12. So everyone was expecting same to happen, as Corona cases registered was very high.
13. But yesterday, markets went up, helped by ICICI Bank and Reliance.
14. Though Corona cases are surging, cases reported from Maharastra and in particular Mumbai, coming down.
15. That is a positive news.
16. Going forward, we can expect less numbers, from other states also, as more and more states are tightening.
17. Kotak Bank may come under selling pressure due to RBI rule about Chairmanship.
18. HDFC Bank has under performed yesterday.
19. So once again Bank Nifty is likely to be volatile.
20. Yesterday Puts are added at 14500 and below.
21. Option preiums are too high, even 13800PE, which is about 700 points lower, was trading around Rs 12. We have only 3 more trading sessions.
22. Put premiums are high, India VIX did not go down even when Nifty was up by 150 points.
23. Bank Nifty is trying to stabilise and out perform, as it has under performed in last 8 weeks.
24. But HDFC Bank is not helping, today Kotak Bank is likely to under perform.
25. Markets are likely to be more volatile, at least that is what Option prices indicate.
26. For India VIX, 20 has become new normal.
27. India VIX refuses to go below 20.
28. FIIs once again have sold for more than Rs 1000 crores in Cash market.
29. However, they are not that bearish in F&O market.
30. Nifty future is likely to trade between 14380 and 14580.