- U.S Markets closed higher on Friday.
- Asian Markets are lower.
- SGX Nifty is Trading near 17560.
- On Friday Night SGX Nifty was indicating an Opening near 17650.
- Today Morning there was a news that China bans Trading of Evergrande shares in Stock Exchange.
- As the Company defaults debt obligation payment.
- This led to panic selling in China and Hong Kong.
- HDFC reports a 135% increase in the Loan Book and that's a staggering number.
- I feel HDFC twins have been bottomed out and should go higher from here.
- FII's turned into net buyers on Friday though the figure was small.
- DII's continue to support the Market at lower levels.
- Unless there's any significant news out of the Blue I feel 17450 is a short term bottom for our Markets.
- Nifty fell 500 Points from 17950 all the way to 17450.
- Corrections of 500 Points have been bought into very aggressively in the past.
- Also I expect corporate results to be above Expectations for this Month.
- This effect will be felt from Next week as results will start coming in from 8th October.
- Accenture has declared very good results and that should cause positive sentiment in IT stocks.
- Buy on dips should be the strategy from here.
- Nifty might Trade between 17500 to 17700 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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