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PRE MARKET REPORT, AUG 31, 2021

  • US markets closed on record highs
  • Asian markets mostly trading lower
  • Nifty made fresh highs and now 17,000 just round the corner
  • SGX Nifty indicating a flat opening with 35 points cut
  • FIIs net bought shares worth Rs 1,202.81 crore and DIIs net bought shares worth Rs 688.85 crore
  • Together they have bought 2,000 cr
  • Bank Nifty breaks out of 20 DMA 35,788 and now just about 1000 points away from all time high
  • Market may see some more shift from IT to Banks in near-term
  • Nifty may take support at 16,880 after a mild downside
  • Midcaps are back, may see more rally this week
  • Tomorrow auto sales date would be coming-up
  • Nifty might trade between 16,880 to 17,020
  • Nifty PCR 1.37 and Bank Nifty PCR 1.02