- U.S Markets closed lower on Friday.
- Asian markets are lower.
- SGX nifty is down 200 points.
- So there is a huge gap down in store.
- Every day we are opening with big gap down in the month of May.
- U.S markets are finding some support near 52 week lows.
- How long will this sustain we have to see.
- Yesterday night all the crypto currencies fell at least 5%.
- So it gave a clue that Dow futures could be negative.
- But it would be down more than 1% nobody expected.
- It's more likely that we would be heading to our 52 week lows as well
- 16000 PE has the open interest in monthly options as well as weekly.
- These are also in trouble right now because of such huge gap downs
- At each and every level there is large call writing now.
- All Call options above 16500 have huge open interest in monthly.
- FII's long position stands only at 22% and shorts at 78%.
- I haven't seen such bearish positioning by FII since Covid 2020.
- Just imagine if they cover 78% shorts itself this could lead Market higher .
- Right now things are looking quite bad and we seem to be heading to 15700 as well if 16100 is broken decisively.
- Nifty might Trade between 16100 to 16400 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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