- U.S Markets closed mildly positive yesterday.
- Right now Dow futures are higher.
- It was a high volatile session yesterday in U.S
- Dow was up 400 at open , then it fell 600 points and then again up 600 and finally closed slightly positive.
- Asian markets are higher.
- SGX nifty is up 30-40 points.
- Today we have the monthly expiry for F&O contracts.
- Nifty is trading in a narrow range of 16900 and 17200.
- Within this range , Nifty is in a consolidation.
- Going significantly higher post a level would lead to a trend.
- Coming first week of May is a 4 day week.
- Tuesday is a holiday on Account of EID.
- Also Tuesday we will be starting Fed meeting in U.S
- Hence , plan your trades accordingly.
- 16800 -17000 has emerged as a strong support numerous number of occasions.
- Nasdaq is at its 52 week lows and that's what causing downfall in IT stocks.
- Facebook has just reported its numbers and it has beaten street expectations.
- Will this cause a positive sentiment from here on?
- Only time will say.
- Purely from a risk reward point of view I don't see shorting the markets now.
- We are near the lower band of the range.
- Going long with a stoploss of 16800 is a good trade now.
- Same on Bank Nifty with a stoploss of 35k positionally.
- Nifty might Trade between 17000 to 17200 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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