• Comments Off on PRE MARKET REPORT, DEC 21, 2021

PRE MARKET REPORT, DEC 21, 2021

  • US Markets closed lower on Monday
  • Asian markets mostly trading higher
  • SGX Nifty indicating gap-up of 155 points need to see if the gap-up sustains in the 1st hour of trade
  • FIIs net sold shares worth Rs 3,565.36 crore while DIIs net bought shares worth Rs 2,764.02 crore
  • FIIs continue to sell discriminately
  • Nifty 16,410 low just 150 from 200 DMA normally in a Bull market 200 DMA gets defended for the 1st time crucial to see if defends 2nd time
  • Bank Nifty trading below 200 DMA of 35,741 and is making highly volatile move
  • 16,700 and 16,800 call has highest OI indicating stiff resistance if Nifty manages to trade above 16,800 may result in some short covering
  • Nifty now has a clear range of yesterdays low of 16,410 and 16,840