PRE MARKET REPORT, SEP 13, 2021

US markets closed around 1% lower across all indices on Friday
Dow has been falling continuously for the last 5 days since the US job data came
Asian markets trading marginally higher
SGX Nifty indicating a flat start against the close on Thursday
FIIs net bought shares worth Rs 423.44 crore while DIIs net purchased shares worth Rs 704.21
Nifty has shot-up over 700 points and no signs of any correction and last 3 trading sessions Nifty clearly in a consolidation mode
Looking at OI 17,400 call option has added huge OI in weekly option
Metals stocks have been stabilizing after some correction
IT stocks continues to remain strong
Key level to watch is Nifty Future 17,450 once this level is taken out we can expect next round of rally till then markets likely to consolidate
Nifty facing some congestion in 17,400-17,500 band
Nifty PCR 1.35 and Bank Nifty PCR 1.01

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