• Comments Off on PRE MARKET REPORT, MAY 17, 2022

PRE MARKET REPORT, MAY 17, 2022

  • US markets closed lower on Monday
  • Asian markets trading mixed
  • SGX Nifty indicating positive start with 40 points gain
  • FIIs net sold worth Rs 1,788.93 crore while DIIs net bought worth Rs 1,428.39 crore
  • FII short exposure now at 72% vs 82% 2 days back
  • 10% cut in short positions hasn’t led to big rally
  • Today can be a make or break day for market
  • Nifty’s low for last 2 days: 15,740
  • Nifty’s March intra-day low: 15,671
  • Matter of survival for bulls to defend 15,671-15,640 zone
  • Break of 15,671 will open door towards 14,700 on Nifty
  • LIC’s listing today, India’s largest ever IPO