- US markets closed higher Yesterday & Dow Futures are also Trading Positive.
- SGX Nifty is Trading around 11170.
- Asian Markets are Slightly Positive.
- Bank Nifty Fell more than 800 Points Yesterday.
- Reason was due to RBI Governer Statement on Banks.
- Also HDFC Bank have their own issues.
- HDFC Bank EX Chairman Aditya Puri has sold his entire stake of HDFC Bank shares.
- So this gave a Negative sentiment to the bank.
- Bank Nifty was down more than 3% Yesterday but Nifty hardly fell about 0.7%
- Reason was due to few shares like Reliance & IT Stocks.
- These stocks are holding up the Market as of now.
- Reliance and IT Stocks are Trading near their lifetime highs.
- As Expected Yesterday Nifty has been Trading within a tight range between 11070 to 11230.
- Once either side of the Range breaks we can expect some big move.
- Bank Nifty will continue to Underperform and will be the laggard.
- Trend is Bullish but the Participation is very low as of now.
- As it still remains a buy on dip market until 11000 is broken on the Downside .
- FII's & DII's were net sellers Yesterday and have sold Heavily in the Market.
- I have sold Bank Nifty 23000 & 23500 CE Yesterday and hedged it with buying 25000 CE.
- Not Expecting Bank Nifty to Sustain above 22500 this Expiry
- Waiting for a Big move either side to enter on Nifty.
- Also sold some Call Options for Banking Stocks Yesterday.
- As 3 days only are left for Expiry the Theta decay will be very fast.
- Nifty might Trade between 11080 to 11240 today.
- 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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