- U.S Markets closed lower yesterday.
- Right now U.S Futures are higher.
- Asian Markets are mixed.
- SGX Nifty is almost flat.
- Yesterday we witnessed a big panic selling in the first hour.
- Bank Nifty down 600 points at one point.
- Nifty down 200 points.
- Gradually we started recovering & also there was clarification from Adani group that demat Accounts were not frozen.
- This let to a short covering in Markets.
- I mentioned Yesterday that Adani group news shouldnt have much effect on Markets.
- The Market is at all time highs and any Negative news will be reacted fiercely.
- That's what happened yesterday.
- The most surprising thing yesterday was even when Markets crashed option writers didn't sell call options to manage.
- Instead they sold more Put options.
- This shows the confidence of Bulls.
- 15700 & 15600 PE added large open interest yesterday.
- FII's long position is over 85% in Index Futures.
- I don't see any reason to be Bearish in near term.
- Every dip is an Opportunity to buy.
- Once we sustain above 15800 on Nifty and 35k on Bank Nifty this will lead to further short covering.
- Those who shorted yesterday will be trapped today.
- Nifty might Trade between 15720-15880 today.
- Bank Nifty might Trade between 34800 to 35400 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
Comments