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PRE MARKET REPORT, MAR 11, 2022

  • US Markets fell on back on inflation hitting four decade high
  • Next week’s FOMC meet biggest cue for market
  • Asian markets trading lower taking cues from US markets
  • SGX Nifty indicating negative opening with 70 points cut
  • FIIs net sold Rs 1,981.15 crore while DIIs bought worth Rs 945.71 crore
  • FIIs covered big shorts in Index and Stock futures
  • Nifty will face big congestion in 20-200 DMA range
  • Current 20 DMA at 16,815 and 200 DMA at 16,960
  • Nifty Bank showing sings on bottoming out and could outperform again