- US markets closed slightly lower Yesterday.
- SGX Nifty Yesterday night was near 14950.
- Right now SGX Nifty is around 14850.
- Asian markets are a bit weak.
- Hence this weakness in SGX Nifty.
- I have been actively trading since 9 years in Stock Market now.
- One thing I always expect from Stock Market is Uncertainty and Surprises.
- Yesterday both Nifty & Bank Nifty were up more than 2.5% as on closing basis.
- After a big gap up many were expecting Markets to consolidate or be weaker.
- But Market continued the rally.
- As a trader it's important not to be stubborn and stick to your original plan.
- If plan isn't working change the same immediately.
- So in last 2 trading sessions both Nifty and Bank Nifty are up more than 4%.
- Now the most important question.
- Will we rally further , whether there will be a sell off or will we consolidate?
- I feel that 14600 is a good support on the lower side for this weekly expiry.
- We had a broad based rally these two days plus both FII's & DII's were net buyers yesterday.
- So the chances of market weakness is less.
- My view is bullish / consolidation.
- 15000 CE can act as a good resistance for this weekly expiry.
- If 15k breaks then it's definetely bullish signal.
- Nifty might Trade between 14740-14980 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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