- U.S Markets were muted on Friday.
- Right now U.S futures & Asian markets are higher
- SGX Nifty is at 17400.
- Friday was a pleasant surprise for our Stock Market.
- Despite all the Global Markets against us we had a weekly breakout on both Nifty and Bank Nifty.
- 35k and 17300 on Nifty and Bank Nifty were taken out decisively.
- India VIX is now near 16.
- Markets are trending higher but at a nominal pace.
- Pace is not too violent as we had In November & December.
- Another significant news is FII's buying.
- FII's were net buyers for around 570+ crores on Friday.
- We need to see if this continues or Friday was just a one off day.
- Usually the first trading day sets the tone for the entire month.
- Friday's price action indicates Markets to be trending higher at a slow pace.
- Now we have been turned into a buy on dip Market.
- Any sort of dips should be bought into.
- 17300 PE and 17500 CE has the highest open interest in weekly options.
- 17300 PE closed at 90.
- So if Nifty breaks 17210 these writers could panic and create further downfall.
- Else 17300 to 17500 seems to be the range for this expiry.
- Nifty might Trade between 17280 to 17480 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
Comments