- U.S Markets closed lower Yesterday.
- Asian markets are mixed.
- Dow futures are slightly lower right now
- SGX Nifty is down 40-50 points.
- Markets in last 1 week have rallied more than 800 points.
- There was a rally across the Globe markets.
- We participated in that too.
- At the beginning of the month FII's short positions were 80%.
- Now it has come down to 55%.
- They have covered their aggressive short bets.
- Perhaps because of the same there was a huge rally on the upside.
- This raises an important question.
- As FII's have covered most of their aggressive short bets.
- Is the rally of the upside capped in near term?
- Else will the rally keep continuing.
- I sense the Market might consolidate/ trade sideways from here on.
- 16400 to 16800 I sense would be the range of short term consolidation.
- Then we decide what goes on from there.
- Continues rally and steep fall after large rally both aint good In the long run.
- There were many results decalred over the weekend.
- Infy & Reliance results were okay- ish.
- We will also be having Fed event on Wednesday.
- Markets might remain jittery going into the event.
- ICICI Bank was once again quite spectacular results.
- Nifty might Trade between 16540 to 16800 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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