- U.S Markets closed lower yesterday.
- Right now Dow futures are lower.
- Asian markets are mostly lower
- SGX Nifty is near 16700.
- Suggesting a big gap down for the day.
- Today we are about to open below 200 DMA of 16850 on Nifty.
- 16800-16850 is the 200 DMA which has been acting as support since many trading sessions.
- Today is monthly expiry and we are straight away opening below 200 DMA.
- Russia is about to fully invade Ukraine and this has led to collapse in Global Markets
- This is effecting us as well.
- Yesterday was a very rangebound session between 17100 to 17200.
- In last 30 mins Nifty broke 17100 and closed at lowest point of the day.
- Later the overnight selling caused big gap down for the day.
- Todays first hour low would be important.
- If we break first hour low then 16400 is on the cards
- Next support is at 16400 only.
- Once we sustain below 16800.
- Downside expansion has begun and where would it stop is difficult to say.
- As of now 16400 is the coming support and things could get worse if we break 16400.
- Also we have Monthly expiry today so Volatility would be highest due to the same.
- Nifty might Trade between 16400 to 17000 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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