- U.S Markets closed higher on Friday.
- Asian Markets are higher currently.
- Dow Futures are slightly down.
- SGX Nifty is Trading at 17380.
- SGX Nifty hit 17400 on Friday.
- I had mentioned on Friday to focus on Nifty and not Bank Nifty , Purely because of IT stocks outperformance.
- Reliance news came out of nowhere and it closed 4% higher.
- This move according to me shouldn't be taken lightly.
- Reliance from 2380 went to 1880 and now it's back again at all time highs.
- Reliance has the highest weightage in Nifty and if Reliance goes 10-15% higher from here.
- 18000 targets on Nifty open up.
- Bank Nifty on the other hand continues to underperform.
- Nifty by itself with the help of IT and Reliance is gaining momentum.
- Bank Nifty will participate in bits and pieces but not in the same order as Nifty.
- 17500 targets on Nifty are in sight now.
- 17200-17150 are strong support zones for Nifty.
- We are trading at all time highs so there are no resistances for the Market.
- Hence there is non stop rally.
- Friday as well Nifty gave a 100 Point dip Intraday close to 17200.
- These dips should be bought into.
- Not advisable to chase the Market after gap up.
- Wait for 60-100 Points dip and accumulate long Positions with Trailing stoploss of 17200 for a very short term.
- Nifty might Trade between 17260 to 17480 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