PRE MARKET REPORT, SEP 08, 2021

  • US markets fell on Tuesday due to worries over slowing pace of economic recovery
  • Asian markets also trading lower
  • SGX Nifty indicating a positive start with 50 point gain
  • FIIs net sold shares worth Rs 145.45 crore while DIIs net sold shares worth Rs 136.57 crore
  • Cabinet briefing later today markets betting on telecom relief
  • Markets have started to become narrow once again signs of consolidation ahead of any big move
  • Heavy Call writing at 17,400, covering likely above 17,450 can result in short covering move
  • Bank Nifty in focus again, defended 20 DMA yesterday
  • Yesterday’s low of 36,150 now becomes important to track and is around 20 DMA
  • Nifty PCR 1.37 and Bank Nifty PCR 0.97