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PRE MARKET REPORT, SEP 23, 2021

  • US Markets bounced back from recent lows
  • FOMC slightly more hawkish than expected
  • Asian markets trading mixed
  • SGX Nifty indicating a gap-up of over 100 points
  • FIIs net sold shares worth Rs 1,943.26 crore DIIs net purchased shares worth Rs 1,850.02 crore
  • Weekly Options Expiry today Nifty may trade between Nifty 17500-17700
  • Bank Nifty is very key to watch just few days back was trading around 38,000 and now trying to breach 37,000
  • Yesterday HDFC twins and ICICI dragged the market and major reason for Bank Nifty’s underperformance
  • Looking at OI 17,600/650/700 call options all have huge OI and today 17,600 call option writers have to run for cover if they don’t have any hedge
  • Nifty PCR 1.04 and Bank Nifty PCR 0.79