- U.S Markets closed higher on Friday.
- Right now U.S Futures are higher.
- Asian Markets are also higher.
- SGX Nifty is down 40-50 Points.
- Reason is due to Suchita Dalal's tweet over the Weekend.
- Tweet stated there's some Manipulation going on in a Particular group stock prices.
- After the tweet , wise people could easily predict which is the group.
- Adani Group Stocks have moved 10X in last 2-3 Years.
- When a Stock moves due to Fundamentals etc that's acceptable.
- Here Adani Power has debt of 40k crore but Market Cap is at 50k crore.
- When Stocks without fundamentals start to fly that's when you should get uneasyness and the party is not likely to continue longer.
- I've hinted the same before a Month not to invest in Adani group Stocks.
- I don't expect this news however to damage overall market.
- This might be restricted only to Adani group Stocks.
- This should cause some temporary negative impact but in India you can get away with almost anything when there's money and power.
- Same will be the situation here and it will be history in some time.
- Bank Nifty is trading in a range.
- One day goes higher second day comes down.
- Overall it has gone anywhere in last 2 weeks.
- Nifty might Trade between 15680 to 15840 today.
- stockmarketadvisory.in
U.S Markets closed higher yesterday. Most importantly , S&P 500 VIX crashed 10%. There was huge Volatility in global markets due to Fed event. Markets remain volatile only when they have topped out or have bottomed out. Right now I feel we have bottomed out at 16850. Asian markets are slightly lower now. Dow futures are lower. SGX Nifty is at 17500. Finally , the most awaited day has come. Budget 2022 is going to be presented today. Expectations are of a good and stable budget. Reasons are the Elections coming up and LIC IPO in March. Govt very well knows if LIC IPO has to go through , Market sentiment has to be good. Without good market spending it would be very difficult for IPO to go through. Market had already fallen a lot before the budget. Although we have rallied in last 2 days but still we have some upside left. Though I feel it's not favourable to chase today's gap up. Today's gap up is a good opportunity to book profits those who carried longs. Bud
Comments