- U.S Markets closed significantly higher yesterday.
- Right now Dow futures are lower.
- SGX nifty is lower.
- Yesterday it was a pleasant surprise for the Bulls.
- Nifty was trading violently between 15200 and 15400.
- This range held upto Friday and Monday.
- Yesterday as soon as this range got broken on the higher side , there was a big rally.
- The rally was so severe that Nifty even tested 15700.
- More than 400 points short covering rally.
- In Bear market the rallies are even more fast & furious.
- These rallies do not last long and get punctured eventually.
- Infosys ADR was up 5% Yesterday.
- Yesterday there was big addition of Open interest in Put options.
- There was big unwinding in Call options.
- What next from here is the big question.
- Now the range has shifted to 15400 & 15700.
- Why 15400 because Nifty broke out of 2 days consolidation from this level.
- Why 15700 because Nifty faced resistance near this zone yesterday.
- This is a market where you shouldn't pre-empt much and just follow what it shows.
- We are not out of the Woods yet and such short covering Rallies should provide an opportunity to sell in longer term.
- March 2020 the Bull Market started and lasted till October 2021.
- It's about 18 months.
- My Experience shows Bear markets last a bit longer than Bull Markets.
- So time to stay cautious.
- Nifty might Trade between 15400 to 15700 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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