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PRE MARKET REPORT, MAR 25, 2022

  • US markets closed higher after a choppy session with Nasdaq closing 2% higher
  • Asian markets trading higher
  • SGX Nifty indicating positive start with 80 points gain
  • FIIs net sold worth Rs 1,740.71 crore while DIIs net bought worth Rs 2,091.07 crore
  • Nifty now clearly in range of 17,000 to 17500 with huge volatility unless until this range is taken out volatility will continue
  • Big moves will happen once these range is broken either side for testing swing lows or testing all time highs
  • Bank Nifty yesterday defended 20 DMA despite heavy selling in HDFC Bk and ICICI Bk
  • Bank Nifty will turn weak if it closes below 35,200
  • IT stocks will be in focus today taking cues from Nasdaq