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PRE MARKET REPORT, OCT 12, 2021

  • US markets closed lower after a choppy session
  • US Inflation data will be coming Wednesday morning until then markets likely to be very volatile. Indian markets will be reacting to the same on Thursday
  • Asian markets trading weak
  • SGX Nifty indicating a gap-down of 100 points
  • FIIs net sold shares worth Rs 1,303.22 crore while DIIs net sold shares worth Rs 373.28 crore
  • Nifty breached 18k and now need to watch if 18k will be sustained and that can only happen if corporate results are good
  • Yesterday we can clearly see money moving out of IT stocks to Banking stocks
  • We can expect BankNifty might be under pressure today need to see if Auto and Reliance support the market and IT start stabilizing
  • Any violent moves will start happening after Infosys results
  • Looking at OI yesterdays high of 18,040 can be clearly considered as resistance and support around 17,800
  • Nifty PCR 1.26 and Bank Nifty PCR 0.95