- U.S Markets closed lower Yesterday.
- This is due to Tensions floating in Afghanistan.
- Asian Markets were negative yesterday during the Trading hours.
- Now , all of them have recovered.
- SGX Nifty is Trading around 16650.
- It is safe to say that Indian Markets are outperforming the Global Markets.
- August series continues to be dominated by the Bulls.
- Yesterday evening , a news emerged that RBI has allowed HDFC Bank to issue Credit Cards.
- HDFC Bank has been underperforming from quite a long time due to RBI restriction.
- This temporary lift of Ban might trigger some Positivity in the Stock.
- Bank Nifty might outperform today as HDFC Bank has the highest weight in Bank Nifty.
- Lot of calls have been written at 16600 and 36k for Bank Nifty.
- Yesterday's last 30 mins rally in the Markets have caused a trouble for these people.
- 16500 straddle also has the highest open interest.
- So if Market sustains the Positivity we might see unwinding of these Call writers which will further take the Market higher.
- Premiums are already too low so one can shift to monthly expiry contracts.
- IT sector has outperformed yesterday and it should continue the momentum.
- Bank Nifty is the key today , if Bank Nifty sustains above 36100 then this will carry Nifty single handedly.
- Nifty might Trade between 16520 to 16700 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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