Pre Market Report, April 30, 2021 | Stocks and Commodities

April 30, 2021

Time: 8 am

Pre Market Report:

1. US markets closed at record high.
2. But that came with huge wild swings.
3. But right now US Futures are lowers.
4. Amazon has come out with very good results after markets closed.
5. But most Asian markets are down.
6. That is taking cue from huge volatility in US.
7. SGX Nifty is down by about 100 points.
8. Opinin polls indicated BJP win for West Bengal but Exit polls indicate TMC win.
9. Rest of the states, opinion polls and exit polls are same.
10. Yesterday DIIs have turned net sellers and sold for more than what FIIs have bought.
11. FIIs have bought for Rs 809 crores and DIIs have sold for Rs 942 crores.
12. IndusInd Bank will be in focus as it will declare results today.
13. Sun TV will also be in focus as DMK is projected to win in TN, but the stock has already moved higher significantly.
14. Reliance will declare results after market close.
15. FIIs long position is at 78% in Index Futures.
16. Usually this kind of long positions, the upside is limited.
17. So markets may consolidate and stock specific actions may contine due to results.
18. SGX Nifty is down just due to Global cues.
19. We may not follow Global cues.
20. Markets may open as per SGX Nifty indication but may recover in the afternoon.
21. Last one hour trading will be interesting today.
22. Traders may like to close positions ahead of weekend.
23. Nifty 14500PE added huge OI in weekly options.
24. Markets can be highly volatile due to huge gap down.
25. Nifty future may trade betweeb 14720 and 14920