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PRE MARKET REPORT, AUG 16, 2021

  • US markets closed marginally higher on Friday
  • Asian markets trading mixed
  • SGX Nifty indicating a negative opening with 35 points cut
  • FIIs net bought shares worth Rs 819.77 crore and DIIs net purchased shares worth Rs 149.50 crore
  • Every minor dip and pullback on Nifty getting bought
  • Nifty achieved its logical target of 16,500 on Friday Bank Nifty still about 4% off highs
  • Next leg of rally if at call comes will be lead by Bank Nifty
  • Expansion to 17,000 possible after some consolidation, Nifty’s base has now moved up to 16,200
  • This month: Nifty up 4.9%, Midcap down 0.8%, Small Cap down 3%
  • Metals could lead again, brokerages bullish post Tata Steel
  • Nifty PCR 1:38 Bank Nifty PCR 0.90