PRE MARKET REPORT, MAR 09, 2022

  • US Markets closed lower on Tuesday
  • Asian markets trading higher in the early trades
  • SGX Nifty indicating flat start
  • FIIs net sold shares worth Rs 8,142.60 crore while DIIs bought shares worth Rs 6,489.59 crore
  • FII selling remains the biggest risk to Index rallies
  • Ukraine says no longer interested in NATO membership
  • Dollar Index stable around 99 for 2 days now
  • Brent crude remains elevated around $130/bbl
  • Market extremely oversold, some more bounce possible
  • Bear market rallies can be powerful and sharp
  • Yesterday’s low of 15,671 needs to be tracked closely
  • Options data suggests test of 16,200 possible on Nifty
  • Options data suggests test of 33,600 possible on Bank Nifty