PRE MARKET REPORT, MAR 10, 2022

  • US Markets surged led by Financials stocks and Tech stocks
  • Asian markets trading higher
  • SGX Nifty indicating gap-up over 300 points
  • FIIs net sold Rs 4,818.71 crore while DIIs net bought Rs 3,275.94 crore
  • Brent crude at 112 vs recent high of 130+
  • Dollar Index drops to 98 from 99
  • Massive unwinding by 16,000-16,200 Call writers
  • 16,500 Call writer still standing firm, key to watch today If Nifty sustains above 16,660, more short covering likely
  • Market still oversold, a test of 20 DMA of 16,850 possible
  • Bank Nifty may have more legs than Nifty in near-term