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PRE MARKET REPORT, SEP 20, 2021

  • US markets ended sharply on lower side on Friday
  • Asian stocks slipped on Monday and U.S. futures wavered amid challenges from the China Evergrande Group debt crisis
  • SGX Nifty indicating a gap-down opening with 125 points cut
  • FIIs net bought shares worth Rs 1,552.59 crore while DIIs net sold shares worth Rs 1,398.55 crore
  • All major indices have now hit all time high, Some profit taking at all time high inevitable
  • Nifty way off from all major moving averages some pull back towards moving average necessary for healthy market
  • Midcaps needs to be watched very closely as any major shakeout will be brutal for midcaps and small caps
  • Nifty likely to take support around 17,450 which was previous resistance
  • Nifty PCR 1.32 and Bank Nifty PCR 1.06