- US markets fell Yesterday.
- Asian Markets are Trading mixed.
- SGX Nifty is now Trading above 15k.
- Yesterday last hour we witnessed a heavy short covering.
- Nifty was up 150 Points and Bank Nifty was up 300 Points.
- 15000 CE has the open interest.
- Option writers have sold this Call Option heavily.
- Once we break this level we might witness a heavy short covering as option writers would look for cover.
- I feel Markets will expire somewhere near to previous week expiry level.
- Previous week we expired around 15100 guess this week also it's going to be the same.
- 15200 is a big resistance for Nifty and it has reversed almost 4-5 times from that level.
- So the Possibility of crossing 15200 seems difficult this week.
- On the down side 14800 should act as a good support.
- So the range comes in between 14800-15200 for Nifty for this expiry.
- Unless anything drastic happens or fresh news triggers out.
- I feel we should expire within above levels.
- Generally Wednesdays are Rangebound sessions but with good amount of Volatility.
- Expecting today to be the same.
- Nifty might Trade between 14920-15120 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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