- U.S Markets closed lower yesterday.
- Bank of England hiked the interest rate due to Pandemic.
- U.S reported highest number of COVID cases yesterday.
- Even though Accenture reported stunning results yesterday , Nasdaq was down 2%.
- Yesterday expiry showed the poor performance of our Markets.
- There was a huge gap up but it was sold into heavily.
- Nifty couldn't even hold onto the gains for an hour
- SGX Nifty right now is at 17290.
- Today the most important level to watch out is yesterday low and high.
- Yesterday low was about 17190 and high was 17370 thereabouts.
- Within these levels Nifty would be in a rangebound territory.
- Once if any of these levels gets taken out and it sustains then we can expect a trending move.
- India VIx was down 8% yesterday and option premiums are too low.
- Specially the Put option premiums are too low.
- No point in selling put options at such low premiums when FII's are all out to sell Indian markets.
- Yesterday last 30 minutes buying helped Nifty to recover 80+ points else we would've closed negative.
- Nifty might Trade between 17100 to 17400 today.
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