- U.S Markets closed a bit lower Yesterday.
- Right now U.S Futures and Nasdaq Future's are trading higher.
- SGX Nifty is Indicating a big gap up above 15100 today.
- Yesterday we witnessed a fantastic rally in both the Indices.
- Nifty and Bank Nifty both have Outperformed highly.
- Bank Nifty in particular was the star of the show Yesterday.
- Bank Nifty closed 1300 Points higher Yesterday.
- It was a big short covering in all the Banking stocks.
- The short covering was led by PSU Banks.
- FII's were also short in our Markets previously and they are still net short on our Markets.
- This short covering took the indices even higher Yesterday.
- Today if we sustain above 15100 for an hour this short covering will increase further.
- 15000 has been acting as a big resistance from quite some time now.
- Sustaining above this level with follow through indicates further strength in our Markets
- Shorting is not advisable as of now.
- India VIX for the first time closed below 20 Yesterday.
- Even now FII's are short on our Markets.
- So there's a high scope of Short covering still existing.
- At one Point of time it was trading near 19.6 down 4%.
- 34000 is a critical level for Bank Nifty and the recent high was about 34300 for Bank Nifty.
- Once both these levels are taken the rally will intensify.
- Bank Nifty might continue to outperform today.
- Nifty might Trade between 14980-15180 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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