- US markets closed Flat Yesterday.
- Dow Futures now are mildly positive.
- SGX Nifty is Trading near 13250.
- Markets all over the world are going through a Consolidation phase.
- Yesterday expiry was also very flat.
- Nifty moved within a range of 60-70 Points only the whole Yesterday.
- Bank Nifty is unable to cross 30k.
- 12200 seems a conjession zone for Nifty.
- If we get a closing above any of these levels.
- Then it is a confirmed Breakout.
- Yesterday Nifty Futures were Trading at 70 Points Premium compared to spot.
- Yesterday HDFC Bank corrected as RBI restricted then to issue credit cards due to which Bank Nifty corrected and which also had a slight impact on Nifty.
- If it was a negative news for HDFC bank it was positive for SBI cards as it gained 5%.
- Going by the data Market looks Bullish again.
- Today if we get a closing above Resistances then it would be apt to buy calls or sell puts.
- Another Important factor to note today is RBI Policy which is at 10 AM today.
- So Bank Nifty might be Volatile for 1 hour today.
- PSU Banks are outperforming private Banks.
- SBI was up 4% Yesterday.
- Nifty might Trade between 13110 to 13280today.
- stockmarketadvisory.in
- Question of the day by MR. Nikhil.
- What is Support and what is Resistance?
- Support, or a support level, refers to the price level that an asset (Stock , Index etc) does not fall below for period of time. An asset's support level is created by buyers entering the market.
- On Wednesday Nifty made a low of 13000 and bounced back from there so for swing & short term traders who wish to go long can keep a Stoploss below 13k
- Resistance, or a resistance level, is the price at which the price of an asset meets pressure on its way up by the emergence of a growing number of sellers who wish to sell at that price.
- All time high for Nifty is around 13220 & Nifty has retraced many times from this level.
- So this is a Resistance
- Closing below Support is known as Breakdown & Closing above Resistance is known as Breakout.
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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