- U.S Markets closed lower on Friday.
- When our Markets were trading , Dow futures were down 100 points
- Then news came that Putin was given clue of development in talks with Ukraine.
- This led to a huge short covering in global markets.
- SGX Nifty touched a high of 16850 and came all the way to 16480 as U.S Markets closed lower.
- Right now as dow figures are positive , SGX Nifty is flat
- U.S VIX fell on Friday as well
- Expecting India VIX to go below 25 today.
- As I had predicted , Market to be volatile between 16400 to 16800.
- Thursday and Friday have passed and we have been trading in this range.
- Big trend and momentum will develop only once we cross either of these levels.
- Until then , expecting ranging Market within this range
- 15750 to 16750 rally in 2 days can be termed as pullback as of now
- I don't see it as a trend reversal yet.
- 16900 is the 200 DMA and only once we cross this level will the trend become positive.
- Until then the trend is still negative and this is a sell on rally Market.
- LIC IPO is due and this could also squeeze lot of liquidity.
- Also I expect DII's to support the Market as Govt might have ordered them to do so.
- Nifty might Trade between 16400 to 16800 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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