• Comments Off on PRE MARKET REPORT, AUG 04, 2021

PRE MARKET REPORT, AUG 04, 2021

  • US markets closed at record highs
  • Asian markets trading higher
  • SGX Nifty indicating a gap-up of 70 points
  • FIIs net bought shares worth Rs 2,116 crore DIIs net sold shares worth Rs 298 crore
  • Nifty closed at record highs yesterday and FIIs are coming back with buying
  • With a 300+ point move in a matter of 1 day all call writers would be looking for cover and expect some sharp short covering given Nifty opening about 70 points above from the close
  • SBI results should be good Bank Nifty might get much required boost from these numbers
  • Looking at OI significant put writing at 16,000 and call writing at 16,100 and 16200 given we are going to open above 16,200 need to see how call writers react