“We have seen an 80% move in the Nifty50 in 2020. I do not see that happening until we get clarity on vaccinations. That remains the biggest stumbling block.”
Yoganand D
BL Research Bureau |
Updated on
April 29, 2021
Key supports are pegged at 14,880 and 14,850 levels
The domestic benchmark indices - the Sensex and the Nifty 50 commenced the session with a gap-up open but started to witness selling interest and declined. From the intraday low the benchmark indices recovered and have entered the positive territory. The Sensex and the Nifty 50 have climbed 0.2 per cent each now.
Among the Asian markets, the Hang Seng index has climbed 0.8 per cent to 29,303 levels and CSI 300 index has gained 0.97 per cent to 5,168 levels in today s session. The market breadth of the Nifty 50 is marginally biased towards advances.
Market may open on a positive note
April 28, 2021
Volatility, however, will rise ahead of F&O expiry Domestic markets are likely to remain positive on Wednesday despite mixed global cues. Short-covering ahead of F&O expiry (April contracts) on Thursday and relatively better preparedness to tackle the spread of Covid-19 seemed to have infused a positive sentiment in the market, said analysts.
Though FPIs continue their selling, domestic funds and institutions resort to aggressive buying at lower levels and keep the market afloat, they added. Ahead of the F&O settlement, market is expected to remain volatile.
The SGX Nifty is currently ruling at 14,732 (8 am) as against Nifty April futures close of 14,644 and 14,698 (May futures), signalling positive bias. Asian markets remain mixed, with Japan, Australia, Hong Kong and the Philippines remaining in the green while Korea, Taiwan and China in the red. Overnight, the US markets ended little changed.
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Nearest support is at 14,480
Nifty 50 April Futures (14,485) The Sensex and Nifty 50 started the week on a positive note, with a gap-up open despite mixed cues from the Asian markets. The Nikkei 225 has gained 0.36 per cent to 29,126 while the Hang Seng index has fallen 0.4 per cent to 28,962 levels in today s session. Both the Sensex and the Nifty 50 continues to trade in the positive territory and have gained 1.25 per cent and 1.2 per cent respectively. The market breadth of the Nifty 50 is biased towards advances.
The India VIX has climbed 3 per cent to 23.3 levels indicating increase in volatility. The Nifty mid and small-cap indices have advanced 0.9 per cent and 1.2 per cent correspondingly. Apart from the Nifty Pharma sectoral index, which has fallen 0.6 per cent, all the other sectoral indices are featuring in the positive territory. The top gainers are Nifty realty and metal that has advanced 2.6 per cent and 2.45 per cent respectively.