- U.S Markets closed slightly lower yesterday.
- Right now Dow Futures are mildly Positive.
- Asian markets are mixed.
- SGX nifty is down 30-40 points.
- Yesterday in Spite of SGX nifty showing a bigger gap up we opened slightly negative.
- Throughout the first half until 1 pm we traded almost flat.
- Then after 1 pm there was a huge selling.
- Nifty fell to 16450.
- Last 30 mins there was a meaningful recovery of 50-70 points.
- It could be said as a rangebound consolidation with good amount of volatility.
- As I've kept on saying 16400 to 16800 is the range for Nifty.
- Nifty is trading within this range in last 3 trading sessions.
- Today we are likely to expire within this range itself.
- Markets stabilizing after Mayhem in May is in itself a positive aspect.
- Yesterday U.S VIX again closed lower.
- It's now at 26 .
- Below 25 is a comfortable position for U.S VIX.
- Below 20 is a comfortable position for India VIX.
- Look to buy Nifty near 16450-16400 with a stoploss of 16350 and look to sell near 16700-16650 with a stoploss of 16750.
- The only way to make money out of ranging markets is trading the boundaries.
- Nifty might Trade between 16400-16600 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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