PRE MARKET REPORT, DEC 24, 2021

  • US Markets closed higher for 3rd straight sessions
  • Asian market so far trading positive
  • SGX Nifty indicating a positive start with 80 points gain
  • FIIs net sold shares worth Rs 271.59 crore while DIIs net bought shares worth Rs 1,196.48
  • SGX Nifty indicating Nifty opening around 17,150 which has been the recent resistance
  • FII Long exposure is now 66% and PCR 1.11 meaning Nifty has most rightly done with short covering
  • Bank Nifty still has shorts and has been underperforming and may face resistance around 35,500-800
  • HCL Tech promoters are buying stake at up to 5% premium from market just reconfirms rerating of entire IT industry
  • Bank Nifty today could be out-performer based on the shorts in the system