- U.S Markets closed higher Yesterday.
- Right now Dow futures are flat.
- Asian Markets are mixed.
- SGX Nifty is up 100 points.
- Yesterday Nifty opened near 17500 and witnessed a bounce.
- 17500 to 17800 is the range for Nifty
- Almost on a daily basis now market is testing the lower and upper end of the range
- Unless there is a clear indication of range being crossed we cannot expect a big move.
- Markets are likely to consolidate within this range itself.
- Bank Nifty is facing stiff resistance near 40k.
- This is a very important level for Bank nifty as it also acts as a psychological resistance.
- Can expect a one way rally only when 40k gets taken out.
- ITC is the stock to watch.
- 330 is the all time high for ITC.
- Above this there would be fireworks.
- Margin of safety is also quite high for ITC as it's a slow and steady stock.
- Stay away from Suzlon stock.
- There have been rumours about Adani investing into this company which has been clarified already.
- Adani has denied rumours.
- Still stock keeps going higher as people keep chasing it without applying logic.
- Nifty might Trade between 17500 to 17800 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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