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PRE MARKET REPORT, AUG 13, 2021

  • US markets closed at record highs for third straight day
  • Asian markets are trading lower
  • SGX Nifty indicating a flat start with 25 points cut need to see if the initial dips gets bought
  • FIIs net sold shares worth Rs 212.11 crore while DIIs net purchased shares worth Rs 307.75 crore
  • Bulls in full control, Nifty at fresh all-time high and midcaps bounce
  • Bank Nifty could lead the next fresh breakout for Index
  • Next leg of breakout will come once Nifty takes out 16,500 (which is not so easy) till then markets likely to consolidate between 16,000 and 16,500
  • Wednesday low of 16,162 now acts as immediate support
  • So far Nifty’s Buy on dips texture continues
  • Tata Steel, Aurobindo, Eicher will be reacting to results
  • This month: Nifty up 3.8%, Midcap down 0.5%, Small Cap down 2.7%