- U.S Markets closed 650 points higher yesterday.
- Omicron fears seems to be subsiding now in the Markets.
- Dow Futures are Asian markets are slightly lower.
- SGX Nifty is down 30-40 Points.
- Last 2 days been a positive surprise for the Bulls.
- Markets have rallied 400 points in last 2 trading sessions.
- Yesterday last 1 hour huge short covering scaled up Nifty to 17400.
- FII's were net sellers even yesterday but sold for less than 1000 crores.
- Is everything fine and are we out of the woods yet?
- I don't think so.
- We have multiple resistances for Nifty near 17450 , 17500 and 17600.
- 17600 is the most stiff resistance of all and Nifty has reversed 2-3 times from there in the past.
- 17200 is a good support now.
- So now the range seems to be 17200 to 17500.
- Markets are quite volatile and there have been large moves almost on an everyday basis.
- 17000 PE continues to have the highest open interest in monthly options.
- Larger range would be 17000 to 17600.
- Market seems to be overextended now on the upside.
- 17250-17300 dip towards Intraday could be a good place to go long.
- Nifty might Trade between 17200-17500 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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