- U.S Markets closed lower Yesterday.
- Dow futures right now are slightly lower.
- Asian markets are down.
- SGX Nifty is down 120-150 points.
- Yesterday after a long time we again had some Volatility.
- SGX Nifty indicated 100 point gap up yesterday but we opened flat.
- Then it was a see-saw ride throughout.
- Market at one point of time turned green but again it was sold into.
- Market closing at the lowest point of the day indicates it was a profit booking day.
- After a huge rally there will naturally be some profit booking visible.
- So now we might go into Consolidation phase before rallying further.
- 17800 is a strong support for Nifty.
- 37000 for bank Nifty.
- After such huge rally everybody is long on the markets.
- Such one sided consensus often takes the Market on the other side and that's what we are witnessing right now.
- Market would attract more shorts / consolidate and then get further steam.
- Until then we should look for opportunities to go long.
- This is still a buy on dip Market.
- We may easily correct 1-2% from here on Indices and it's perfectly fine.
- Yesterday both the hdfc group stocks faced selling pressure at open.
- Midcaps and small caps performed extremely well yesterday.
- This shows there is a concentrated selling on the index heavy weights.
- Nifty might Trade between 17750 to 18000 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
Comments