Pre - Market Analysis (9th August 2021)

U.S Markets closed higher on Friday.
Asian Markets are mostly flat.
SGX Nifty is trading around 16270.
Right now , Dow Futures are flat.
Markets after breaking out of 16k have witnessed a fantastic rally.
Now it's in Consolidation phase.
I expect a limited upside for this week Expiry.
Many negative news approaching.
Markets seem to be taking it easily as of now.
Reaction hasn't been witnessed yet.
Idea has approached to Govt of India for handing over the company.
Idea has liabilities more than 1.8 lakh crores.
It has to repay loans to many major banks.
SBI loan book includes 11000 crore given to idea and IDFC first Bank's 3% loan book is of Idea.
Due to this turbulence markets were lower In the first half yesterday.
2nd half we tried to recover but failed to close higher
Nifty might Trade between 16160 to 16300 today
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