PRE MARKET REPORT, FEB 16, 2022

  • US Markets closed higher on Tuesday as signs of de-escalating tensions along the Russia-Ukraine
  • Asian markets trading higher
  • SGX Nifty indicating flat opening with 25 points gain
  • FIIs have made net selling of Rs 2,298.76 crore while DIIs have net bought Rs 4,411.60 crore
  • India VIX fell by 10.31% from 22.97 to 20.61 levels. Volatility cooled down and needs to further come down for market stability and complete grip of bulls
  • Nifty 20 DMA at 17,409 need to see if this again is a halt or move up till then Markets likely to consolidate for next couple of days
  • Nifty now has clearly taking support from around 16,800 levels three times in last 3 months now
  • Looking at OI 17,500/600/700 has huge call option OI indicating stiff resistance and 20 DMA around 17,400
  • 17,000 still holds significant put option indicating clear support
  • Nifty has now trading in big range of 16,800 to 17,500 with huge volatility