- U.S Markets closed 200 points higher yesterday.
- Asian markets are flat to negative now.
- SGX Nifty is up 20 points.
- Yesterday our Markets were highly volatile.
- As soon as Market opened Nifty crashed 250 points at the open.
- This has been a regular feature as soon as our Market opens.
- This huge selling happens because of Machines.
- Machines are much faster than humans and we cannot stand in front of them.
- Nifty yesterday tried to break 17200 but failed.
- What's more worrying is Bank Nifty.
- Bank Nifty fell 20% from highs and is in a Bear Market now.
- Yesterday advance decline ratio was also very weak.
- 420 advances to 1570 declines shows a very weak advance decline ratio.
- Clearly momentum is lacking on the upside.
- This is a sell on rise Market until Nifty crosses and closes above 17250 in the near term.
- 17000 is the highest open interest in put options.
- Both in monthly and weekly expiry.
- So this could act as a support.
- I'm expecting a rangebound Market now.
- 17000 to 17250 is the range for now.
- And expecting this to continue for some time.
- FII's have been selling on a daily basis of 3000+ crores.
- Nifty might Trade between 17000 to 17250 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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