PRE-MARKET ANALYSIS

US

ü  Market ended in green and U.S. closed for a holiday

ü  US Futures are trading Green

ü  U.S. payrolls data to be released on Friday

ü  Dollar Index slightly depreciated

Asian

ü  Asian Markets are trading at Green

ü  Revival in hiring in May in the US and keep the global recovery on track

China     

China has released Manufacturing, Non-Manufacturing, and Composite PMI and all results upto the mark.

Europe

Ended Green

India      

Labour Ministry announced Dependents benefits for Covid Victims

Paytm board gives in-principle approval for IPO

Global Cues

All major ADRs are trading in red except Wipro and HDFC Bank

Commodity

Gold and Crude trading at slightly Higher

SGX Nifty     

Opened red and Currently trading at 15,429

 

Behavior

US market is closed on today. Market Participation will be less today. Sgx opened in red and trading 40 points lower. We may expect Nifty to open in the red.     

Events    

Rupee ends at day high at 72.44 per dollar – Rupee Appreciated heavily

Stocks to watch     

Indian Bank, M&M, Divis Lab, and Sun Pharma posts Profits and Bank of Baroda posts Loss

Auro Pharma releasing results today.

FII/ DII 

FII has buy for 913.59 Cr and DII has bought for 1275.22 Cr in cash market.

Data       

Retail Investors/Traders' participation has been increased. About 57% Long Contracts and 44% Put Contracts done by Retail 

FII
Future Index Long %	87
Future Stock Long %	50

NIFTY  

Achieved ATH and crossed 61.8 % Fibonacci retracement level. Need some correction to move further. Buy on dips.

NIFTY FUT 

A premium of 28 points

BANK NIFTY      

Ended in Red and moved about 459 points from intraday high to low

BANK NIFTY FUT     

A premium of 80 points

OPEN INTEREST

More Calls and Puts were added at 15500. Smart people will do a short straddle at 15500. In a broader view market may rally between 15500 to 16000.

TECHNICAL

Max Pain at 15300. The view of the market is bullish. Also, we may expect the slight correction to move further.

REMARKS

Vix crashed for 12.59%. Volatility has been reduced and the market will act at a stable. All broad market indices were traded Green and Sectoral indices were ended Green except Pharma (Due to Sun Pharma). The view of the market is Consolidation to slightly bullish.