- US markets ended on a Flat Note Yesterday.
- Asian Markets are Mostly Mixed with a Negative Bias.
- SGX Nifty is down 50 Points and Trading near 10030.
- Yesterday the Markets have given a strong move over 10000 levels.
- This was Mainly due to Short Covering.
- Due to Indo - China Disputes many people have anticipated a War like Situation and shorted the Markets.
- Also PM Modi spoke about the Economy Yesterday which caused a Positive sentiment.
- Yesterday the Resistance of 10000 got taken away and we Witnessed a huge short covering.
- Yesterday I Sold 10050 Call Option at ₹7.
- I exited with a loss of 2-3rs here as Markets gave a big Breakout.
- If I had not exited and kept this for 2 Minutes more it would have eaten away my Entire profits.
- Such was the Momentum of Markets Yesterday.
- AGR Case has also been Deferred to July by the Supreme Court.
- FII's were net sellers Yesterday but not by much.
- However DII's have come to the rescue and were net Buyers Yesterday.
- The pace of FII selling is reducing.
- 9700 is a strong support on Nifty now.
- In Spite of such Negative news like War etc Nifty was not able to break 9700.
- This shows there is strong Momentum in the Market.
- Market is likely to Consolidate for some time now and give a Breakout.
- Reliance will be the Hero of the Next Bull Market.
- Reliance has backed another investment of 2.3% in Jio Platform Yesterday.
- I have suggested it for Long term Investment at ₹1400. Keep holding it for targets of ₹2000-₹2300.
- Will be looking to sell Put Options on every major dip on Nifty and construct Bull Call Spreads.
- India VIX was also down Yesterday which shows that there is no fear RELATING to Indo - China Border issues.
- This expiry range would be between 9700-10300 on Nifty broadly.
- If 10300 gets taken out then we may Witness 10500.
- Strategy remains to keep Accumulating positions on dips & hold for that Breakout.
- Market is likely to Consolidate today after such a huge rally Yesterday.
- Nifty might Trade between 9920-10120 today.
- Do not carry any Positions over the Weekend.
- stockmarketadvisory.in
1. U.S Markets closed higher on Friday. 2. Right now , dow futures are lower. 3. Asian markets are mixed. 4. SGX Nifty is up 30-50 Points. 5. There's no point discussing Global markets today. 6. As we are dealing with our own local issues as of now. 7. The talk of the town is Adani Group. 8. Every stock Market participant during last 2 days have not spent as much time with their wife /gf /husband /bf as they have spent on researching Adani stocks. 9. They shouldn't have wasted so much time in research and should've spent their time with loved ones. 10. As Ultimately my Pre Market report would clear all. 11. Now , the Adani stock price has gone below the FPO price. 12. FPO price is in the range of 3100-3200 and stock price is around 2800 13. Who will subscribe to FPO when they can buy shares much cheaper from the Market? 14. Also over the weekend Adani has come up with a 450 page report addressing one by one the allegations made by Hindenberg. 15. I haven't
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