PRE MARKET REPORT, AUG 11, 2021

US markets DOW and S&P closed at record highs while Nasdaq closed lower
Asian markets trading lower today
SGX Nifty indicating a flat opening with 5 point gain
FIIs net sold shares worth Rs 178.51 crore while DIIs net bought shares worth Rs 689 crore
NSE Adv/Dec has been poor throughout this month
Nifty managed to make new intra-day and closing high
Money moving back to the safe large caps like HDFC, Kotak
Bull market corrections are fast and furious and huge volatility
Nifty is likely to move violently between 16,000 and 16,500 and ultimately markets will give breakout
SEBI is proposing new circuit limits in addition to daily circuit limit, weekly circuit limit and monthly circuit limit
Looking at OI 16,300 has highest OI and markets are bullish and even today third attempt to take out 16,300
Of late Nifty has been making violent moves on Wednesday a day before weekly expiry
In terms of stock Kokak bank has moved nicely over the last few trading sessions and still looks very bullish

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