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PRE MARKET REPORT, JUNE 17, 2021

  • US Fed moves up timing of first rate hike on inflation fear
  • Dollar Index at 91.5 and US bond yield at 1.58
  • US Markets have fallen and Asian markets trading lower
  • SGX Nifty indicating gap down of over 100 points
  • Big question: Are emerging markets now due for a fall?
  • Both FIIs and DIIs sold Rs 870 cr in each total of 1700cr, unwound some more longs
  • Huge call writing in 15750 which in the money call option also seen in 15800
  • Monday low of 15,606 will be first line of defence
  • Uptrend will break only if Nifty closes below 15,500
  • Key level to watch on Bank Nifty: 34,300-34,50