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PRE MARKET REPORT, AUG 20, 2021

  • Indian market is likely to see a gap-down opening on Friday as SGX Nifty was down more than 200 points at around 16,335 versus Wednesday close of 16,572.30. It recovered nearly 1% in the morning.
  • Global equities saw big meltdown yesterday
  • The Indian market had seen vertical run, was due for pullback
  • Key levels to watch: 20 DMA of 16,150 and 50 DMA of 15,950
  • Bank Nifty already at 20 DMA can see a sharp fall