- U.S Markets closed higher on Friday.
- Right now Dow Futures are lower.
- Asian Markets are all in deep red.
- This is why SGX Nifty is also negative about 50 points and trading near 15800.
- Hang Seng and Chinese markets are down more than 2% each.
- This is because Chinese Govt is behind technology gaints.
- Ali Baba 6 Months ago was being succumbed to this pressure.
- Now other IT companies are also facing he heat.
- These local issues should not much impact on our Indian Markets for longer term.
- ICICI Bank and Reliance industries declared results over the weekend.
- Both these companies are important components and have heavy weightage in Nifty and Bank Nifty.
- ICICI Banks profit growth was good and also there wasn't any major lag in Asset Book.
- Reliance Industries results were also as per Expectations.
- GRM Margins increased due to crude oil prices fall was a cherry on the Cake.
- I expect Markets to be rangebound for this week too.
- 15500 to 16000 is the range.
- Unless some new news comes out of the bloom we should be trading in this range.
- Naked Options selling is not advisable considering such low VIX as in the last week Vega effect is at its highest.
- I bought 15900 CE at 98 and sold 16000 CE double the quantity at 56.
- Strategies like above should be preferred in such scenarios.
- Nifty might Trade between 15720 to 15880 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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