PRE MARKET REPORT, MAY 10, 2021

On Friday, US jobs data came much lower than expected
So markets shot up in US on Friday as interest rates may continue to be lower
SGX Nifty is trading around 15K
This week, Inflation data, IIP data may help Bank Nifty to move higher.
Bank Nifty has been under performing
Now FIIs have turned net buyers, Banks may out perform.
Data shows FIIs have sold for about Rs 1140 crores and DIIs have bought for Rs 1470 crores in Cash market
But there was a block deal in SBI for Rs 4000 crores
This Rs 4000 crore worth of shares sold by an FII
HDFC twins and Reliance are showing some activity
Looking at Open Interest, Nifty has a major support at 14500 and major resistance at 15200.
Nifty future is likely to trade between 14880 and 15080.

Archives