April 28, 2021
Time: 8 am
Pre Market Report:
- US markets ended mixed.
- Most Asian markets are slightly higher.
- Japan and Hong Kong opened negative but turned positive.
- SGX Nifty now trading almost flat, after falling 30, 40 points.
- Just now Alphabet, parent compnay of Google, declared results.
- In after market trades, it has shot up 5%.
- At the same time, Microsoft also declared results and it is down 4% in after market trades.
- Gold, Silver, Crude fell.
- Today is Wednesday.
- Usually Wednesday trades are highly volatile.
- That too today, trade will begin with a data that says FIIs have sold for highest amount in last two weeks in Cash market.
- At the same time, DIIs also bought for equivalent amount in Cash market.
- Markets will be reacting to good numbers from Axis Bank, Bajaj Finance also.
- Nifty has shot up nearly 500 points in last one week, even when FIIs keep selling on every day.
- Nifty future once again started trading at discount.
- Bank Nifty is more volatile due to big moves by HDFC Bank.
- Yesterday it moved about Rs 40. Usually 40 points move will make Bank Nifty to move 800 points.
- US Presidents reassurance regarding help to fight Covid is another good news today.
- Reliance has been doing well for the last two days.
- DIIs are determined not to let markets fall.
- If FIIs stop selling or if FIIs start buying, where the Nifty will go?
- I will not be surprised even if Nifty makes an all time high in May or June.
- VIX is very high and hence Option premiums are very high in May series.
- Just two days back, I saw, even 12800PE was trading above Rs 50.
- For the time being, I am staying bullish.
- While I am writing this, SGX Nifty shot up by about 40 points, now trading at 14690.
- Huge OI added at 14600PE and 14500PE.
- So Nifty is likely to take very good support between 14550 and 14600.
- But at the same time, be ready for big moves.
- Nifty future may trade between 14580 and 14780.
Comments
Post a Comment