- U.S Markets closed mixed on Friday.
- Dow Jones closed slightly higher.
- S&P 500 was flat and Nasdaq is very weak.
- Right now , Dow futures are lower.
- SGX Nifty is down 100 points.
- So we are in for a gap down opening today.
- Friday was a quite interesting day.
- As expected , RBI policy was a status quo.
- Nifty broke Thursday low of 17640 and traded below for quite some time.
- And then for a short squeeze.
- All the shorts were trapped and we had a big rally.
- Most importantly , India VIX was down 7% on Friday.
- I expect markets to consolidate between 17600 to 18100 for a while.
- I do not see a reason to be excessively bearish now.
- Markets went from 17700 to 18100 because of hdfc twins.
- And then crashed to 17600 because of these both stocks.
- These both stocks have given up all of their gains and are back to Pre merger levels.
- There is very limited downside now for these stocks and expecting these stocks to bottom out soon
- 17500 to 17600 is a strong buy zone on Nifty.
- Also earnings season kicks off today.
- TCS is going to declare results most probably after Market hours .
- Time to accumulate longs with a stoploss of 17600 Intraday basis.
- Positional stoploss at 17500.
- Nifty might Trade between 17600 to 17900 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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