PRE MARKET ANALYSIS 27.05.2021

US

ü  US Futures are trading in Slightly lower

ü  Dow Jones and Nasdaq were ended in Green

ü  Vix down by 7.86%

ü  Dollar Index appreciated slightly

ü  Reopening of economy which lift the market higher 

ü  Crude Oil Inventories fell 1.662 million barrels per week

Asian

Asian Markets are trading at RED

China     

Ended higher

Europe

Ended mixed

India      

India becomes the second country in the world to reach 20 crore vaccination after the United States

Global Cues

Major Banking and Tech ADRs are trading at Green such as Axis Bank, HDFC Bank, ICICI Bank, Infy, Tata Motors, and Wipro

Commodity

Gold and Crude trading at slightly lower

SGX Nifty     

Opened Green and Currently trading at 15344

 

Behavior

The market has raised significantly ahead of New Stimulus package and Monthly Expiry. Tech, Financial Services, Auto and Some pharma has helped Nifty to make Second highest of 15301 which is 130 points away from the ATH. If this rally continues, we may expect a new high at this expiry.   

Events    

Rupee ends at day high at 72.70 per dollar – Rupee Appreciated Slightly

Stocks to watch     

BPCL declares Rs 12,581 crore dividend ahead of privatization

Eicher Motor, Sun Pharma, and Strides yet to declare results

FII/ DII 

FII has bought for 241.60 Cr and DII has Sold for 438.59 Cr in the cash market.

Data       

Retail Investors/Traders' participation has been increased. About 59% Long Contracts and 47% Put Contracts done by Retail 

FII
Future Index Long %	65.08
Future Stock Long %	52.21

NIFTY  

May be trading between 15300 to 15500 until expiry

NIFTY FUT 

A premium of 2 points

BANK NIFTY      

Ended in red and moved about 445 points from intraday high to low

BANK NIFTY FUT     

A premium of 39 points

ORDERS      

Yesterday the market was supported by Bajaj Finserv and Bajaj Finance. Major PSU Stocks and Steel were bearish.  

OPEN INTEREST

More puts are added at 15200 PE, 15250 PE and 15300 PE and unwinding of calls are seen at 15200 CE and above. More puts are added than Calls.

TECHNICAL

Max Pain moved to 15200. View of the market is consolidation to bullish.

REMARKS

All broad market indices were traded within the range of 1% and Sectoral indices were ended mixed and traded below 1% except IT, Media, Realty have been higher at 2%. Consumer and Media Stocks need to be watched as Corona cases are stepping down. Nifty to be traded between 15200 and 15500 in this expiry.