Pre-Market analysis
1)Nifty closed at 10116.15 up 0.69% and banknifty closed at 21100.10 up 1.81%. 2)We were trading flat whole day but there was huge reversal on positive side last half n hour and we closed higher. 3)Fed signals no rate hikes through 2022 and also projects 6.5% decline in US GDP this yr Dow shows profit booking slips 282 Pts 3)Today, US and Europe futures are trading lower and asian markets opened weak and are trading flat to negative,sgx nifty is trading flat at 100106. 4) We may open flat to negative and will once again follow global futures as the day progresses. 5)Support and resistance for Nifty and Banknifty for intraday. 6)Nifty option pain is at 10100 and banknifty option pain is at 21000. 7)Nifty May trade between 10000 and 10500 and banknifty may trade between 20000 and 22000 which will act as support and resistance. 8)Important events today. 9)Stocks in news. Pharma companies in Focus( Cadila / IPCA ) Department of Pharmaceu...