PRE MARKET REPORT, SEP 02, 2021

  • US markets, Nasdaq closed at record highs
  • Asian markets trading mixed
  • SGX Nifty indicating a flat start with 8 points gain
  • FIIs net bought shares worth Rs 666.66 crore while DIIs net sold shares worth Rs 1,287.87 crore
  • Bank Nifty within 3% of life high need to watch very carefully
  • Bank Nifty was up around 500 points but gave back so needs to be very careful
  • Bank Nifty has been underperformer for quite sometime and breakout is expected any time soon
  • Looking at OI 17,000-17,200 is the range for todays expiry
  • Markets likely to consolidate and may trade between 17,000 to 17,500 in coming few days
  • Weekly expiry today not expecting big moves as per OI and also first expiry without any extra leverage from brokers