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PRE MARKET REPORT, JULY 19, 2021

  • SGX Nifty indicating a gap-down of 200 points
  • FIIs are keep selling on a daily basis
  • Nifty facing stiff resistance around 16k levels
  • Looking at OI 15900 put option had huge OI as of Friday now markets are opening 15700 and below they will have to run for cover
  • HDFC Bank results could be a reason for negative opening. They have reported a growth of 16% normally they give 20% growth
  • Market’s reaction to HDFC Bank numbers key for Bank Nifty
  • ACC and HCL Tech will be coming out with results today
  • This week lot of Nifty 50 stocks will be coming up with results
  • Nifty 15,500 seems to be a support and 16,000 looks like stiff resistance