PRE MARKET REPORT, FEB 03, 2022

  • US Markets closed higher however post market Nasdaq futures crashed down over 330 points after Meta and Spotify shares plunged in after hours trade on poor earnings, especially Meta (Facebook)
  • Asian markets trading mixed
  • SGX Nifty indicating flat opening with 18 points cut
  • FIIs net sold shares worth Rs 183.60 crore while DIIs net bought shares worth Rs 425.96 crore
  • FII cash selling has dipped and have started to cover F&O shorts
  • HDFC will be reacting to results today both HFDC twins needs to watched very closely for any direction
  • Nifty now has moved towards 20 DMA
  • Nifty Bank very strong, trading above all major averages Nifty Bank has some resistance in 39,500-39,600 zone
  • Looking at OI 17,800 has highest call OI indicating immediate resistance any move above 17,800 can have huge short covering