- U.S Markets closed lower Yesterday.
- Right now , Dow futures are slightly higher.
- SGX Nifty is hovering around 17300.
- After a long time we are going to have a flat opening.
- Everyday we have been used to gap up / gap down openings.
- Yesterday I had advised not to chase gap up.
- Markets rallied more than 500 points
- And another gap up doesn't have risk reward in our favour.
- Buying Opportunity was close to 17200-17250 and today we might get that opportunity.
- Upper resistance comes around 17500.
- Expect Nifty to consolidate within this range for a while
- If 17200 breaks we would be retesting 17000.
- Bank Nifty has also recovered from lows.
- Financials are showing strength.
- Today is Friday and generally Friday's are highly volatile.
- FII's like to book profits on their positions so they might do some profit booking today in 2nd half.
- FII short Positions are between 75-80% now.
- This indicates a highly oversold territory.
- Nifty might Trade between 17180 to 17480 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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