- U.S Markets closed higher yesterday.
- Right now U.S futures & Asian markets are lower.
- SGX Nifty is at 17620.
- Yesterday was once again a Fantastic day for the Bulls.
- After Friday's breakout Market showed fresh Expansion and momentum on the higher side.
- 50 DMA of 17516 has been breached decisively yesterday.
- FII's have bought 900 cr yesterday but the rally seemed like they have bought for 9000 crores.
- Now the big question is "What next from here"?
- Generally after 2 days of non - stop rally , big players tend to book profits on the 3rd day.
- Today there are good chances of a Consolidation with mild positive bias.
- Run away rally like yesterday should not be expected.
- I somehow feel Market is expecting some positives In the budget.
- This can be termed as a pre - budget rally for the markets.
- Another Possibility is good corporate results expectations.
- These 2 factors seem to be driving the markets higher.
- We would get better clarity after some days when the event actually happens.
- 17500 PE now has the highest open interest.
- This is because those who sold calls have no option but to sell closer puts to cover their loss.
- India VIX was higher yesterday because the call writers were in fear.
- Nifty might Trade between 17500 to 17750 today.
- stockmarketadvisory.in
- I will not chase the Market today.
- I would look to enter on a 50-70 point dip. My view is only to buy , shorting is not the trade one should take from here.
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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