- U.S Markets closed lower on Friday.
- Asian Markets were also lower.
- Right now Dow futures and Asian markets are down.
- SGX Nifty is down 100 points indicating opening around 16900.
- If one Remembers , last time we closed near 16900.
- The next day we had a huge gap up and a big rally from there.
- Today we are likely to open near 16900.
- 16800 is a short term low on Nifty.
- We had made a panic bottom around these levels previously.
- The Momentum is quite strong towards the downside.
- Many Index heavy weights are below it's 200 DMA.
- Bank Nifty already below it's 200 DMA.
- Trading below 200 DMA indicates a short term bear Market.
- Everything isn't worse.
- Today's first hour is crutial.
- If we sustain today's low and start to recover during the day then we might have double bottom at 16800.
- Which is a Possibility.
- Purely from risk reward type it's advisable to exit short Positions at open.
- Buy trade with a stoploss of 16800 offers a good risk reward
- Nifty might Trade between 16850 to 17150 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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