- U.S Markets were closed on Friday.
- Most of the Global Markets were shut due to Christmas and New Year Celebrations.
- SGX Nifty is down 30 points.
- On Friday our Markets were under severe pressure.
- As soon as we opened , there was a big selling Nifty broke 17k.
- 16900 was tested and there was a good short covering.
- Everything happened with Volatility and VIX was higher 3%.
- I've seen many times in the past , as soon as VIX is near 15 it goes higher.
- VIX has not been below 15 in past 4 Months.
- This time as well im expecting the same.
- Both the FII's and DII's were net sellers on Friday.
- Though the amounts and volumes were less as it might be due to profit booking.
- Im expecting the Volatility to continue for December last week.
- 4 trading sessions are left and 17k strike option has the highest open interest.
- 300 was the combined premium so range comes between 16700 to 17300.
- 17150 is the 20 day DMA and is likely to act as resistance
- Friday's low of 16900 should come in handy as support for the day
- Uncertainty around RBL Bank should see some pressure in Bank Nifty and this could impact Nifty as well.
- Though RBL Bank doesn't have much weightage but the sentimental hit would be big.
- Nifty might Trade between 16840 to 17100 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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