- U.S Markets closed lower yesterday.
- Asian markets witnessed profit booking as well.
- SGX Nifty is down 100 points
- After a stellar rally yesterday all over the Globe this profit booking makes sense.
- U.S VIX was up 5% yesterday.
- Crude Oil jumped from 100 to 105.
- Yesterday Nifty and Bank Nifty closed above their respective swing highs.
- Technically this shows Bullishness in the Market.
- If past 6 Months trend is observed , Tuesdays are generally sideways.
- Market tends to move sideways on Tuesday more often than not.
- IT index was up 3% yesterday.
- All the underperformance after TCS results was cleared in just one go yesterday.
- When was the last time you saw HDFC Bank down by 1% and Bank Nifty up 500+ points.
- PSU banks are witnessing serious re-rating.
- These banking stocks are in a Bull Market of their own.
- Use today's sideways movement to go long.
- The trend right now is Bullish.
- Trend would be negated if we close below 16k on Nifty.
- Option Premiums are also too low considering the fall in VIX.
- Nifty might Trade between 16100 to 16320 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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