PRE MARKET REPORT, SEP 03, 2021

  • US markets closed higher on Thursday
  • Asian markets are trading mixed
  • SGX Nifty indicating a flat start with 9 points cut
  • Nifty, Midcap Index at fresh highs
  • FIIs net bought shares worth Rs 348.52 crore and DIIs net purchased shares worth Rs 381.70 crore
  • Nifty’s base has now moved up to 16,950-17,000 and Bank Nifty just 2% off from life time highs
  • US jobs data later today and US markets likely to react to the numbers on later today
  • Lower than expected jobs data would keep Fed dovish
  • Generally when markets move up significantly from Monday to Thursday some sell-off comes on Friday and that too around the last one hour so need to watch very carefully
  • Looking at OI 17,000 is strong support for now