PRE MARKET REPORT, SEP 06, 2021

  • US markets, Nasdaq closed at record highs while Dow closed lower reacting to a disappointing US jobs data
  • Asian markets so far trading mixed
  • SGX Nifty indicating a positive start with 40 points gain
  • FIIs net bought shares worth Rs 768.58 crore while DIIs net purchased shares worth Rs 668.60 crore
  • Reliance has broken out and trading at all time highs this adds to Nifty’s outperformance
  • Bank Nifty facing resistance close to life time highs
  • All major indices at life high except Bank Nifty
  • Nifty already up around 600 points in Sept in just 6 days and about 1000 points in 10 days
  • Nifty about to open to above 17,400 need to watch very carefully if gap-up is sustained
  • Nifty PCR 1.35 and Bank Nifty PCR 1.12