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PRE MARKET REPORT, APR 07, 2022

  • US Markets fell on Wednesday with steep decline in tech stocks leading to 2.2% fall in Nasdaq
  • Asian markets taking cues from US markets trading lower
  • SGX Nifty indicating negative opening with 90 points cut
  • FIIs net sold worth Rs 2,279.97 crore while DIIs net bought worth Rs 622.92
  • Market has seen long unwinding and no major selling
  • Looking at OI 17,800 has highest put OI
  • 17,700-17,750 crucial level to defend and any close below negates Nifty’s uptrend
  • HDFC twins have ended at lows for 2 days running
  • HDFC twins accounted for 40% of Nifty’s fall yesterday
  • Bank Nifty 200 DMA of 36,800 key support
  • Nifty PCR at 0.86