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PRE MARKET REPORT, NOV 22, 2021

  • US Markets, Nasdaq closed above 16,000 for the first time
  • Asian markets trading mixed on Monday morning
  • SGX Nifty indicating negative opening
  • FIIs net sold shares worth Rs 3,930.62 crore while DIIs net bought shares worth Rs 1,885.66 crore
  • FIIs have been selling very aggressively and Thursdays selling could be on back of PayTm shares being sold by FIIs
  • TCS has fallen more than 100 points in two days again dragging the market
  • RIL will be focus in back of Aramco deal being shelved for now
  • We can expect some short covering in TCS and IT stocks may rally
  • Looking at OI 17,800/900/18k call options have huge OI indicating stiff resistance
  • Nifty PCR 0.75 and Bank Nifty PCR 0.78