- U.S Markets closed flat Yesterday.
- Asian Markets are higher now.
- Dow Futures are higher.
- SGX Nifty is Trading near 17150.
- Yesterday Nifty broke out of 17k.
- From past many Months I've been observing that Market makes a big move in first two weeks.
- Last few weeks there's Consolidation.
- This Month is no different.
- September expiry is a long expiry of 5 weeks.
- In the first week itself Nifty has witnessed almost 500 points rally.
- Bank Nifty did not participate in Yesterday's rally.
- India VIX was up 10% Yesterday even when Markets were roaring higher.
- This proves the fact that VIX doesn't rise only in falling Market.
- Even in rising Market , if Market goes up too fast in too less time then Call writers will be trapped.
- They would then look for cover to cut losses.
- This takes Market even higher.
- 17000 CE had the highest Open interest in weekly expiry.
- As soon as we breached 17k we witnessed a massive short covering.
- Today I expect a Consolidation on Nifty with slightly positive bias.
- Yesterday I mentioned that After GDP data Market might cross 17k.
- This turned out be wrong as Market crossed 17k Yesterday itself.
- Nifty might Trade between 17000 and 17250 for this Expiry & today as well.
- stockmarketsdvisory.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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