- U.S Markets closed lower Yesterday.
- Nasdaq crashed 500+ points yesterday.
- Dow Jones and S&P were also weak.
- In the Afternoon Dow Futures were positive on the back of good jobs data Expectation.
- As Markets opened Fed minutes were presented.
- In minutes there were talks about Increase in interest rates and reducing bond purchase.
- There was also a discussion on Reducing liquidity in the economy.
- This will be done in a staggered manner.
- This posted a dent on the Bullish sentiment and caused markets to fall in panic.
- U.S VIX was up 16% YESTERDAY.
- Due to all this SGX Nifty is indicating an open near 17800.
- I feel this is a good gap down to enter into.
- 17750-17720 should act as good support levels for the day.
- Once Global Markets start to stabilize we will resume uptrend.
- Yesterday both FII's and DII's were net buyers.
- Today is weekly expiry and this gap down might create panic in first half.
- Post that we can stabilize and can expect a recovery.
- Bank Nifty looks strong and has actually breached 20 DMA yesterday.
- IT stocks were under pressure and expect it to continue today as well
- Nifty might Trade between 17720 to 17960 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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