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PRE MARKET REPORT, NOV 9, 2021

  • US Markets closed marginally higher and closed at record highs
  • Asian markets trading mixed
  • SGX Nifty indicating a flat opening with 7 point cut
  • FIIs net sold shares worth Rs 860.65 crore while DIIs net bought shares worth Rs 1,911.77 crore
  • Last month FIIs sold 25,000 cr and yesterday again sold around 900 cr but they have bought huge in F&O
  • Nifty likely to trade between 17900-18200 with huge volatility
  • Nifty future is trading almost 100 points premium generally should be around 30-35 points can expect some correction in Nifty future today
  • Nifty 20 DMA is at 18,078 and Bank Nifty 20 DMA 39,585. Need to closely watch price action around these levels
  • Nifty PCR 1.18 and Bank Nifty PCR 0.96