Pre Market Report, April 29, 2021 | Stocks and Commodities

 April 29, 2021

Time: 8 am

Pre Market Report:

1. US markets closed lower.
2. But now US Futures are higher.
3. Apple and Facebook declared very good results.
4. Apple sales increased 54%, Gross margin more than 42%, they are excellent figures during pandemic period.
5. Fed meeting has gone as a non event, as expected.
6. There was no talk of interest rate hike.
7. Asian markets are higher.
8. SGX Nifty is up more than 100 points.
9. In just 4 days, Nifty (as per SGX Nifty indication) will be up more than 600 points.
10. Bank Nifty is up more than 2000 points in just 3 days.
11. And this is happening on the back of worst pandemic crisis in India.
12. Nobody could believe this rally, that too in such a short term.
13. Corporate results are helping the markets.
14. Bajaj Finance saw huge short covering after the results.
15. Today HUL, Titan and Bajaj Auto will declare results.
16. Markets wiped out all its losses due to bad pandemic news triggered sell off of the first 4 weeks of this series.
17. Who would have imagined, last week when Nifty broke 14200, that Nifty would expire around 15K this week?
18. Yesterday both FIIs and DIIs have bought in Cash market.
19. That is one of the main reason why SGX Nifty is showing more than 130 points gap up.
20. Today evening 5 state elections Exit Poll will come.
21. Tomorrow Reliance results.
22. Now Nifty 15K is within a striking distance.
23. Nifty has been trading between 14200 and 15450.
24. It will be interesting to see May series.
25. Yesterday Nifty 14800PE and 14700PE added huge OI.
26. So Nifty is not likely to expire below 14800.
27. This is just a pure short covering rally.
28. We can expect some selling at higher levels, closer to Nifty 15K.
29. But any significant dip of more than 200 points is a buying opportunity.
30. Nifty future may trade between 14820 and 15020.