PRE MARKET REPORT, FEB 09, 2022

  • US Markets closed higher on back of big tech gains
  • Asian markets trading higher
  • SGX Nifty indicating 75 points gap-up
  • FIIs net sold shares worth Rs 1,967.89 crore while DIIs net bought shares worth Rs 1,115 crore
  • Nifty ended at day high after recovering 223 points
  • Looking at OI if Nifty manages to trade above 17350 can trigger some short covering rally of 100-150 points
  • If Nifty protects 1st hour low can result in trend ahead of expiry
  • Nifty may test 20-50 DMA zone of 17,450-17,670
  • HDFC twins key to watch as both have been dragging Nifty majorly
  • Nifty IT may lead the rally today as most of the heavy weight tech stocks are now within 5% of 200 DMA