- US markets closed Positive Yesterday.
- So Asian markets are Flat.
- SGX Nifty is down 10 points.
- Yesterday in second half we witnessed a heavy short covering in Bank Nifty.
- 22000 is the major support level for Bank Nifty and it bounced back exactly from that zone.
- Bank Nifty is highly Unperforming Nifty still.
- A 800-1000 Point recovery here cannot be ruled out.
- Day before Yesterday , IT stocks ruled the market.
- Yesterday Pharma and Reliance.
- Reliance is Unstoppable and will continue to hold Nifty.
- So being bearish on Nifty wouldn't work as the saviour Reliance won't let it drown.
- So currently I'm Bullish on the Market.
- Every dip will witness buying Opportunity.
- DII's were net sellers but FII's net buyers.
- Market are Likely to consolidate with Positive Bias.
- Bank Nifty should recover most of its losses.
- Nifty might Trade between 11420-11600 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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