PRE-MARKET ANALYSIS

US

ü  US Futures trading Higher

ü  Nasdaq and S&P slipped whereas Dow Jones raised

ü  S&P Vix raised by 6.8%

ü  Johnson and Johnson fell more than 2% after the Supreme Court rejected the company's appeal

ü  Dollar Index slightly depreciated

Asian

ü  Asian Markets such as Korea, Taiwan, Singapore and Japan are trading at Green

China     

Green

Europe

Ended Green

National News       

·      Centre Cancelled CBSE and ICSE XII exams

International News

The Organization of Petroleum Exporting Countries (OPEC), Joint Ministerial Monitoring Committee (JMMC) was conducted on Yesterday

ADR

Dr Reddy, Wipro, Tata Motor, Axis Bank, Vedanta are trading Green and HDFC Bank and ICICI Bank are at Red.

 

Commodity

Gold and Crude trading at Higher

SGX Nifty     

Opened Green and Currently trading at 15,645

Behavior

Yesterday Nifty has gapped up and fell drastically due to profit booking and Selling pressure by FMCG, Auto and Banking Stocks. We need some pullback to move further. We can achieve new high at few sessions.     

Rupee    

Rupee ends at day high at 72.90 per dollar – Rupee depreciated

Stocks to watch     

Ø  Mothersumi and Muthoot Finance yet to be announced result on result

Ø  Sun Tv, Sail – Under Trade Ban

Ø  ITC – fell in profit and announced Dividend

Ø  Petronet – Travelling in channel, Breakout with higher volume to be happened

FII/ DII 

FII has Sold for 449.86 Cr and DII has bought for 230.49 in cash market.

Data       

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

FII
Future Index Long %	86
Future Stock Long %	50

NIFTY  

Opened with gap up and felt drastically and closed flat

NIFTY FUT 

A premium of 100 points

BANK NIFTY      

Ended in red and moved about 500 points from intraday high to low

BANK NIFTY FUT     

A premium of about 200 points

OPEN INTEREST

More Puts were added at 14800 PE. Smart people will do short straddle at 15500. More calls were added at 16000 CE. In a broader view market may rally between 15500 to 16000.

TECHNICAL

Max Pain at 15400 from 15300. View of the market is bullish. Also we may expect slight correction to move further.

REMARKS

Consolidation or little retracement to move further.

SEBI New Margin Rule:

June 1, 2021, intraday leverages are set to reduce under the new peak margin regulations. Maximum leverage for Equity will be 6.66X (15% of trade value) and for F&O is 1.33X (75% of NRML margin) for MIS and CO product types.