- U.S Markets closed higher on Friday.
- Right now Asian Markets are slightly positive.
- SGX Nifty is near 18k.
- November has been a fairly volatile month for index.
- Nifty at the end of october fell 1000 points from 18600 to 17600.
- Made a short term bottom from those levels and since then it has been a sideways Market.
- 17800 to 18000 is the range for Nifty.
- Nifty is moving with high Volatility within this range.
- The good news is that India VIX is falling continuously.
- India VIX is now below 16.
- India VIX below 15 is considered to be bullish trend moving forward.
- FII's were selling heavily at the beginning of November but now the magnitude has reduced.
- Many term that it might be due to tapering news or some issues in corporate tax etc.
- Whatever it might be , seems like the revenge selling is out of the way now.
- In the past I have observed as and when FII long position goes below 50% Markets in the coming weeks have rallied uniformly.
- Now it's the same situation In our Market.
- 18000 , 18050 , 18100 are huge resistance for today.
- Once these levels get taken out we may see 18200 in no time.
- 17870 should be a good support for the day.
- Nifty might Trade between 17850 to 18100 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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