PRE MARKET REPORT, FEB 02, 2022

  • US Markets closed higher on Tuesday
  • Asian markets trading higher
  • SGX Nifty indicating gap-up of 110 points
  • FIIs net sold shares worth Rs 21.79 crore while DIIs net bought shares worth Rs 1,597.70 crore
  • FIIs have covered some stock shorts, cash selling also down
  • No negative in budget, focus on capex stocks
  • Nifty fell from 18,300 to 17,100 in 7 days on global cues
  • Nifty has risen from 17,100 to 17,600 in 2 days
  • Nifty has technically made a reverse head and shoulder pattern
  • Looking at OI 17,500 has still has highest call OI premium at 175
  • Nifty might make an attempt to move towards 20 DMA of 17,768
  • Bank Nifty defended 20 DMA despite intra-day decline yesterday