PRE MARKET REPORT, DEC 17, 2021

US Markets closed lower with Nasdaq closing sharply lower
Asian markets mostly trading lower
SGX Nifty indicating negative start with 35 point cut
FIIs net sold shares worth Rs 1,468.71 crore while DIIs net bought shares worth Rs 1,533.15 crore
Although FIIs have sold in cash market but they have covered some short position in F&O and added new longs
Looking at OI 17,200 looks to be immediate support and 17,300 has significant call writing indicating stiff resistance
Key level to watch is 17,180 yesterday low any break can lead to further fall
Yesterday also Nifty took support around 17,200 and bounced back
With very small range of support and resistance markets trading very violently
Despite Nasdaq closing lower Infosys ADR closed 3% higher indicating Infosys may open 2 to 3% higher
Nifty PCR 0.94 and Bank Nifty PCR 0.76

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