PRE MARKET REPORT, AUG 26, 2021

  • US markets closed higher on Wednesday
  • Asian markets so trading mixed
  • SGX Nifty indicating a flat opening with 20 points cut
  • Global cues stable ahead of Jackson Hole
  • FIIs net sold shares worth Rs 1,071.83 crore and DIIs net sold shares worth Rs 151.39 crore
  • FIIs so far have sold more than 8,000 crore and been have selling for the last seven consecutive sessions on an average of more than 1,000 crore every trading session
  • Bank Nifty once again defended 20 DMA 35,570 on decline yesterday
  • August series Nifty has moved up from 15,800 to 16,700 some profit booking on last trading session can be a possibility
  • Nifty IT is up around 12% one of the major reasons for Nifty scaling higher
  • Auto sectors are little bit disturbing Maruti is off 35% from highs and need to watched very closely
  • F&O expiry today, options suggest 16,600-16,700 range
  • Nifty PCR 0.99 and Bank Nifty PCR 1.03