- U.S Markets closed a Percent higher Yesterday.
- Asian Markets are Mixed with a Positive Bias.
- SGX Nifty is up 40 Points and Trading near 10220.
- U.S Markets are Nasdaq are now Trading near their all time high.
- Yesterday Nifty Witnessed a big Gap up at the open & was Consolidating for the first half but soon the selling resumed.
- It was not severe kind of selling which changes the Trend.
- It was just a minor profit booking.
- The Trend of the Market is still Positive but we may not go higher with the pace as we have done before.
- This will be a calm and collective upward journey and one needs to be very patient to ride it.
- After a huge rally of Nearly 1200 Points in about a week we are just Consolidating, buliding a base for a fresh rally.
- Corrections like Yesterday are important and keep the Market healthy.
- Markets should never go up or come down in a Straight line.
- FII's were net Buyers Yesterday but DII's were net sellers.
- DII's are Witnessing profit booking since a couple of days and FII's not Stopping to pump in money.
- There is a clash between these two so there is Indecisiveness in the Markets.
- Titan came out with good Results Yesterday as it were better than Street Expectations.
- PVR reported a ₹ 77 crore loss for it's first quarter.
- Hero Moto Corp is coming up with it's results today and it is going to be a decider for Auto Stocks.
- The Broader range for the Nifty is 10000 to 10350.
- Nifty is likely to trade within this Range for this Expiry.
- Even if this Range breaks high chances are breaking on the Upside.
- Yesterday selling pressure was Witnessed in the Markets due to selling pressure in Index heavyweights.
- ITC , HDFC Bank & Reliance dragged the Markets lower.
- Once Reliance Crosses it's all high of 1618 it can push the Nifty higher for a Breakout.
- So my View for the Markets remains of "Consolidation" with a Positive Bias.
- Corrections like Yesterday raise questions in Traders mind that has the Trend changed?
- It gets weak shorts into the System and Eventually they are trapped.
- Mentioned Yesterday that Bank Nifty will Outperform and it will continue to Outperform the Nifty.
- IT Stocks are showing good strength and they can be looked for Intraday basis.
- Intraday the Trade is to sell near 10300 with a Stoploss of 10350 and buy near 10100 with a Stoploss of 50 Points and play for Reversal.
- Positional / Short term Traders the trade is to keep buying Call Options on every dip and keep building positions on the Upside with a Stoploss of 10k.
- 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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