• Comments Off on PRE MARKET REPORT, JULY 28, 2021

PRE MARKET REPORT, JULY 28, 2021

  • US markets fell from record highs on Tuesday
  • Asian markets trading mixed
  • Hong Kong market has fallen more than 8% in last two days and is trading very volatile
  • SGX Nifty indicating a flat opening with 18 points gain
  • FIIs net sold shares worth Rs 1,459.08 crore while DIIs net purchased shares worth Rs 729.96 crore
  • HDFC has fallen nearly 200 points, HDFC Bank has fallen 100 points and Reliance nearly 200 points in July series so far despite that market has not fallen much
  • Last month Jun expiry Nifty closed around 15,800 and July we are again around that level
  • Nifty remains in a narrow range of 300 points
  • Nifty has been in 15,600-15,900 range on closing basis
  • Risk-reward favours buying near 15,600 and selling near 15,900
  • Heavy Call writing visible at 15,850 and 15,800 strikes
  • Heavy sell off seen in Pharma sector need to see if money gets shifted to domestic consumption stocks