- U.S Markets were shut yesterday.
- Right now Dow Futures are lower.
- Asian markets are slightly lower.
- SGX nifty is down 50 points close to 16600.
- We have rallied from 15900 to 16700 yesterday.
- All in a matter of 3 trading sessions.
- 15900 was the expiry low and 16700 was Yesterday's high.
- This rally is majorly due to short covering across the Globe.
- Yesterday India VIX closed below 20.
- Options IV's are very low for this month.
- Indicates that this is going to be a sideways / range bound month with less big moves.
- Yesterday for the first time after almost 1.5 months FII's have turned buyers.
- Yesterday they have bought for 500+ crores.
- This is indeed a good news for the Bulls but we have to see whether it is a continued buying or just a one off day.
- Anyways as long as Global markets are strong we do not have to worry about FII selling.
- 16400 is a strong support now for nifty as we decisively closed above the same yesterday.
- Next resistance is at 16800.
- This is the range you gotta work with for the current time being.
- Bank Nifty underperformed Nifty yesterday.
- This is natural as Bank Nifty outperformed in May month.
- Now it is a prone to profit taking.
- Nifty is likely to outperform bank Nifty as IT index starts to fire.
- Nifty might Trade between 16500 to 16720 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