- U.S Markets closed lower yesterday.
- Right now U.S Markets and Asian markets are lower.
- SGX Nifty is trading near 18220.
- In spite of big fall in Global Markets , SGX Nifty is still down just by few points.
- Yesterday was a very rangebound expiry.
- We had a short covering in the end but it was mostly rangebound only.
- IT index was flat throughout.
- Infy had come up great set of numbers and everybody expected a rise in prices.
- But a small gap up also got sold into.
- Usually , on the expiry days moves get restricted because of option writers.
- Real action begins on the day after expiry.
- Today's action is important to watch out for.
- 18300 straddle added huge open interest yesterday.
- 18000 PE also added good open interest in monthly as well as weekly.
- Yesterday I gave a swing trading set up on Nifty.
- Buy at 18200 with stop of 18k and targets of 18400 and 18600 (1:2 risk reward).
- This set up still holds well.
- Nifty might Trade between 18140 to 18360 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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