- U.S Markets closed lower on Thursday.
- Asian markets are all lower.
- Dow futures are lower right now.
- SGX Nifty is down 250 points.
- Indicating a huge gap down at the open.
- Reason is the Global markets underperformance plus not so good corporate results.
- Infosys has disappointed and missed earnings by street estimates.
- Infy ADR was down 9% in last 2 trading sessions in U.S
- Hdfc bank also missed earnings but asset quality has been improved.
- Today we can expect huge gap down openimg in infy.
- Hdfc bank has limited downside left because it has already fallen a lot after the merger news.
- 17150-17200 is a strong support on Nifty and this is where 200 DMA kicks in.
- If you are a Bull this is a large support area.
- Markets are oversold and this offers a good opportunity to go long.
- Nect support comes in at 17k.
- If global markets keep declining then no support would work.
- Bank Nifty 200 DMA kicks in at 36800.
- Bank Nifty looks much stronger than Nifty currently as IT isn't included in it.
- After such huge gap down there's no point shorting the Market.
- Pullback rallies can be quick and speedy.
- So look for levels to go long for a Intraday recovery.
- The Bull trend changes below 17200.
- If we close below 17200 on nifty then it's time to be bearish.
- Great companies may underperform for few quarters but that doesn't mean they have suddenly lost their mojo.
- Infosys is a great company and this underperformance is a great opportunity to accumulate for long term.
- Because 17200 was the recent high and then we went all the way below 15700 during war.
- Nifty might Trade between 17200 to 17500 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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