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PRE MARKET REPORT, SEP 17, 2021

  • US markets ended slightly on lower side
  • Asian markets are trading mixed
  • SGX Nifty indicating a gap-up of 90 points
  • FIIs net bought shares worth Rs 1,621.88 crore DIIs net sold shares worth Rs 795.13 crore
  • Bank Nifty has finally completed unfinished business of new high
  • Bank Nifty may have some more follow through rally left
  • This year: Nifty up 26%, Nifty Bank up 20%, Nifty IT up 48%
  • Pre-empting any correction will be brutal
  • PSU banks will be in focus on back of yesterdays announcement of Bad Banks
  • Good idea to buy PSU BANK BEES instead of buying individual banks to ride the PSU Banks moves trading around 27 for long term investment
  • Nifty PCR 1.33 Bank Nifty PCR 0.86