- U.S Markets closed mixed yesterday.
- Right now U.S futures & Asian markets are mixed.
- SGX Nifty is at 17200.
- Dow Jones is just few 100 points away from all time high.
- Yesterday as well we had a lack lusture trading day.
- As it's year end , the Volumes are very little.
- Due to these less volumes there's not much movement in Markets.
- Market was within 17200 to 17300 until 3 pm for most of the time.
- After 3 pm there was a sudden downmove.
- Nifty fell 70-80 points whereas Bank Nifty fell 300 points.
- Today's expiry is expected to be rangebound as well.
- Range for today could be 17150 to 17300.
- 17200 PE had the highest open interest on Tuesday.
- Now 17300 CE has added huge amount of open interest.
- This is going to be a stiff resistance for the day.
- Bank Nifty has also witnessed aggressive call writing at all the higher strikes.
- Upside and downside both seem to be quite limited for today.
- But we never know , in this low volume environment one small big move can create trouble for writers and lead Market to trend.
- Chances of this exist but are less likely.
- U.S Markets are at record highs but we are still 8% away on Nifty and 20% away on Bank Nifty.
- We should catch up some of it in January and hence I'm Bullish.
- 16800 is now a short term bottom for this Market.
- Nifty might Trade between 17150 to 17300 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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