• Comments Off on PRE MARKET REPORT, JAN 21, 2022

PRE MARKET REPORT, JAN 21, 2022

  • US Markets again closed in negative
  • Asian markets trading lower following decline in US futures
  • SGX Nifty indicating gap-down of over 100 points
  • FIIs net sold shares worth Rs 4,679.84 crore while DIIs net bought shares worth Rs 769.26 crore
  • Market looks extremely weak and is close to some important support marks like the 100 and 50 DMA.
  • Nifty now at 20 DMA 17,745 and SGX Nifty indicating we may start at 100 DMA 17,633 and 50 DMA is at 17,510
  • Nifty has now completed 33% retracement of the rally from 16,600 to 18,300 and 50% retracement is at 17,450 which around 50 DMA
  • Results from Reliance post markets and ICICI Bank tomorrow can have bearing on last hour trade for Bank Nifty