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PRE MARKET REPORT, JULY 07, 2021

  • US Markets closed negative
  • Asian markets are trading mixed
  • Global cues challenging, SGX Nifty indicates weak opening
  • Nifty saw profit taking after being 1 point away from peak
  • Nifty might see some buying if 15,750 is respected
  • Bank Nifty up 2.2% this week, has some momentum
  • FII selling continues but ferocity of selling is down
  • Today’s trade would be about respecting first hour low
  • If first hour low is respected, market can stage another rally
  • All eyes will be on cabinet reshuffle later in the evening