PRE MARKET REPORT, AUG 25, 2021

  • US Markets closed at record highs
  • Asian markets mostly trading higher
  • SGX Nifty indicating a gap-up of 75 points
  • Nifty indicating to open at record highs
  • FIIs net sold shares worth Rs 1,644.91 crore while DIIs net bought shares worth Rs 2,380.05 crore
  • Yesterday there was a news that Iron Ore prices short up by 6% that’s why all the metal stocks after a recent sell-off all short up
  • Most of the commodities stocks are trading higher
  • Its been observed historically Wednesday trades are generally huge volatility ahead of expiry
  • Bank Nifty manages to take out 20 DMA on 2nd attempt
  • Big buying in HDFC Bk, ICICI Bk, follow through would be key,Delivery volume of nearly Rs 1,000 cr in HDFC Bank
  • Delivery volume of nearly Rs 1,000 cr in HDFC Bank
  • Looking at OI just one day before 16,500, 16,600 , 16700 calls were written yesterday it was the opposite all the calls were unwound and more puts are written
  • Yesterdays low of 16,500 can act as support and 16,700 as resistance
  • Nifty PCR 0.94 and Bank Nifty PCR 0.86