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PRE MARKET REPORT, AUG 17, 2021

  • US markets closed lower on Monday on back of China’s not so good data
  • Asian markets mostly trading lower
  • SGX nifty indicating a flat start with 7 points cut
  • FIIs net sold shares worth Rs 1,088.32 crore DIIs net purchased shares worth Rs 506.21 crore
  • Yesterdays it was more of stock specific move RIL moved on the back of Saudi Aramo deal of $25b is going through now
  • With Thursday being a market holiday the weekly expiry gets preponed to tomorrow
  • Options data suggests a move to 16,700-16,800 is possible
  • Nifty’s base has now moved up further to 16,350
  • Bank Nifty underperformed yesterday, will be key to watch
  • Backing market outperformers on any decline is working
  • Focus remains on HDFC twins, Reliance, Kotak and TCS
  • Nifty PCR at 1.34 and Bank Nifty PCR at 0.97