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PRE MARKET REPORT, DEC 31, 2021

  • US Markets closed lower on Thursday
  • Asian markets trading higher with Hong Kong stocks leading the gains
  • SGX Nifty indicating flat opening with 13 points gain
  • FIIs net sold shares worth Rs 986.32 crore while DIIs net purchased shares worth Rs 577.74 crore
  • Nifty has clear range now 17,150-17,250 for medium term
  • Nifty has been tested 20 DMA of 17,150 for consecutive 3 days any major up swing will come only if Nifty breaches 17,250
  • Nifty to breach 17,250 needs support from Bank Nifty which is currently weak
  • Nifty if it breaches 17,150 can move downwards and Bank Nifty if it breaches 34,750 can see further down side
  • Entering into earning seasons and Budget lot will depend on earnings for any major indications