- U.S Markets closed higher yesterday.
- Right now Dow futures & Asian markets are flat.
- SGX Nifty is higher by 40-50 points.
- Indian Market is in a consolidation mode.
- 17000 to 17500 is the range and this consolidation is with huge Volatility.
- Big one sided trend would develop only once this range gets taken out.
- Until then this would continue to be a ranging Market.
- Last time , when the Crude prices crossed 125$ Nifty was at 15700.
- Now again crude prices are rising but markets are resilient.
- Only 1 major reason is that FII's have stopped selling as they used to do before.
- Since the day BJP has won elections FII's have sold very less compared to before.
- In some situations they have bought as well.
- This is what is keeping the markets resilient.
- Bank Nifty would be under serious pressure as long as crude prices keep rising.
- Inflation also is a big worry as commodity prices keep going higher.
- Another factor Is the global markets rally.
- U.S markets are also above 200 DMA and they have also been rallying.
- This is also keeping the markets resilient.
- Right now the view is rangebound between 17000 to 17500.
- Trending move would develop only after this range breaks.
- Nifty is likely to outperform as compared to Bank Nifty.
- There's no positive news from Russia - Ukraine front.
- It's better not to carry positions over weekend and stay very light.
- This is a highly volatile market and can turn in minutes.
- Nifty might Trade between 17100 to 17400 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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