- U.S Markets closed mixed yesterday.
- Right now Dow futures slightly lower.
- SGX nifty is higher & trading at 15750.
- Yesterday it was majorly a Consolidation in the Global markets.
- Asian markets are slightly lower.
- After such a huge short covering rally consolidation is necessary to keep momentum intact.
- So this looks more of a consolidation and not of a trend reversal
- U.S GDP data is going to be out tomorrow.
- Perhaps market is waiting for the same and hence theres cautiousness.
- Most importantly , U.S VIX fell yesterday.
- In spite of U.S VIX falling , India VIX keeps on going higher.
- Yesterday as well in a Bullish market India VIX was higher.
- In U.S the VIX falls gradually but in India it doesn't fall for few days and then goes down at one go.
- FII's are on a selling spree and now almost every market participant knows the same
- Bank Nifty underperformed Nifty yesterday.
- This is because bank Nifty has outperformed Nifty in the last week
- So now a profit booking was on cards.
- As long as 15700 holds , uptrend is intact.
- Major downside only below 15700 for Nifty.
- Nifty might Trade between 15700 to 16000 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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