- U.S Markets were higher by more than 500 Points yesterday.
- Asian Markets and Dow Futures are flat now.
- SGX Nifty is Trading near 17850.
- Markets have been extremely Volatile for the past week.
- Nifty and Bank Nifty were moving almost a percent on a daily basis.
- Last Friday Nifty was at 17800 then it fell about 500 Points in 3 sessions and recovered entire losses in remaining 2 sessions.
- Nifty expired at almost the same level of Friday's high.
- Yesterday was a dream rally for the Bulls.
- Due to huge fall in the Market , there was aggressive call writing over the week.
- Yesterday all these call writers were trapped.
- Plus it was an expiry day so they had no other alternative apart from adjusting Positions.
- These aggressive call writers have propelled the Market even higher.
- Yesterday I expected some sort of resistance near 17800 as it was the previous high.
- Market did consolidate near those levels.
- But had crossed during the day.
- Maybe due to expiry issues we had such a fantastic rally Yesterday.
- Both FII's & DII's were net buyers Yesterday.
- I would be very careful to play on the long side from here.
- Everything looks good and all good news seems to be factored in.
- When all is well , that's when profit booking sets in.
- Premiums too are not that attractive for selling options.
- 18000 CE has the highest open interest in options.
- Nifty might Trade between 17680 to 17920 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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