- U.S Markets closed higher Yesterday.
- Dow hit a fresh all time high yesterday.
- Asian markets are higher
- SGX Nifty is at 18350.
- Our Markets have been going through a brutal correction phase.
- Yesterday Nifty was less than a percent but I can assure you most of the portfolios have been down by 3-4%.
- Midcap index fell 2.5% yesterday.
- This is a very healthy correction as the over leveraged and over valued hyped stocks have been coming to fair valuations.
- Correction isn't over yet and I expect the weakness to continue for short term.
- Global Markets might keep hitting fresh highs but here we might face temporary underperformance.
- Last hour reversal is just due to Volatility and that cannot be stated as a recovery.
- Only if we get a closing above 18500 can we say the Market is strong.
- Bank Nifty is outperforming the Nifty
- Yesterday Nifty closed -0.8% lower but Bank Nifty closed flat.
- PSU Banks witnessed significant buying yesterday.
- 18000 and 18200 has the highest open interest in monthly options currently.
- 18500 and 18600 CE has the highest open interest among calls.
- Yesterday India VIX too started inching higher and closed +7% above 18.
- Expect some sort of pull back and consideration today along with fall in India VIX.
- FII's and DII's have sold more than 6500 crore in 2 trading sessions.
- This is the highest in last 3 Months.
- Next week would be tricky as it's monthly expiry and volatility could be supreme.
- Nifty might Trade between 18200 to 18450 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