- U.S Markets closed higher Yesterday.
- Right now Dow Futures are lower.
- Asian markets are mixed.
- SGX nifty is up 70-80 points.
- Yesterday U.S GDP was announced.
- Estimates were -1.2% but it actually came in at -1.5%.
- So it was clearly worse than expected.
- In spite of the same U.S Markets rallied yesterday.
- Price action depicts that the news has already been factored in.
- Yesterday as expected Nifty traded within 15900 to 16200.
- But there were massive swings Intraday.
- As soon as Market opened with a gap up there was immediate selling.
- From 15900 Nifty made a huge short covering and rallied 300 points.
- Before yesterday for last 3 trading sessions Nifty was having recoveries of 100-150 points Intraday but all those were sold into by end of the day.
- Acticipating similar action yesterday , many traders have sold call options and these options went 7X-10X in no time.
- 16050 CE made a low of 6rs yesterday at 12 and closed at 120.
- Buyers have benefitted a lot and sellers got ruined.
- Clearly the Market is dangerous for option writing now so you have to focus on buying strategies or spreads would work the best.
- One should understand and adjust to market conditions than being stubborn.
- Nifty might Trade between 16100 to 16400 today.
- Nifty is in a range of 16k to 16400
- Big move would come only if any of this gets broken until then there's only consolidation.
- 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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