• Comments Off on PRE MARKET REPORT, MAR 21, 2022

PRE MARKET REPORT, MAR 21, 2022

  • US Markets closed higher on Friday
  • Asian markets trading cautiously
  • SGX Nifty indicating gap-up opening of 100 points
  • FIIs net bought worth Rs 2,800.14 crore while DIIs net sold worth Rs 678.45 crore
  • Nifty now opening around its congestion zone of 17,400-17,600
  • Nifty has now retraced almost 50-60% of the recent fall from Jan and normally 50-60% is a big congestion zone
  • FIIs are now net long on Index futures and have covered most of the shorts
  • FIIs added 38,100 longs and unwind 11,600 shorts on Thursday
  • Looking at OI 17,400/500/600 have significant call option OI indicating stiff resistance and 17,000/100/200 has put option OI indicating support around these levels
  • Nifty now trading above most of the moving averages
  • Nifty PCR at 1.24