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PRE MARKET REPORT, APR 12, 2022

  • US Markets closed sharply on lower side with Nasdaq closing 2% lower. Nasdaq is down 3rd day in a row with more than 6% cut
  • Asian markets trading lower
  • SGX Nifty indicating gap-down opening with 137 points cut
  • Dollar Index above 100, VIX up 15%
  • FIIs net sold worth Rs 1,145.24 crore while DIIs net bought worth Rs 486.51 crore
  • TCS numbers are good but not enough to fire up the sector
  • IT stocks may now become “Sell on rally” like Nasdaq stocks
  • 17,600 remains last support on closing basis for Nifty
  • Crucial to see if 1st hour if gap-down is sold into or bought
  • Nifty PCR 0.86