Pre Market Report | 19 Apr 2021
In our daily NPM forecast, on the Nifty Profit Makers Telegram channel, 47% think market will go down today and 27% are expecting it to be range bound.
Markets are in a delicate reconciliation act as they are pulled between positive global and local cues and rising Covid concerns!
FPIs have pulled out INR 4615 Cr from Indian markets this month though they are net buyers in the last couple of sessions.
Results of big banks are coming out and will be interesting to watch #NIFTYBANK. Some sectors like #NIFTYAUTO and #NIFTYMETAL are up on price hike or sales data. #NIFTYPHARMA is a natural choice with rising Covid cases. 11
SGX Nifty is currently trading at 14468, indicating a gap down for Indian markets.
#NIFTY50 support levels for the day are at 14300/14250 and resistance, 14600/14700.
Trade with the trend and keep booking quick profits.