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PRE MARKET REPORT, FEB 17, 2022

  • US Markets bounced off from day low to close flat
  • Asian markets trading mixed
  • SGX Nifty indicating flat start with 40 points gain
  • FIIs have made net selling of Rs 1,890.96 crore while DIIs have net bought Rs 1,180.14 crore
  • Weekly expiry today and markets have clearly shown how volatile its getting
  • Yesterday Nifty came down crashing, and then shout up and then down with panic and again recovery from day lows
  • Nifty might be trading in yesterdays range 17,500-17,300 with huge volatility
  • OI data also suggest the same range
  • Looking at OI 17,500/600 has huge call OI indicating stiff resistance
  • 17,000 has huge put OI indicating immediate support and that’s where the market has bounced previously
  • 17,300 put OI still has some meaningful put OI indicating some support need to see how Nifty reacts around 17,300