- Dow futures are slightly lower.
- Asian markets are mostly mixed right now.
- SGX Nifty is flat.
- Nifty is likely to have a flat opening today.
- Since last many days , Nifty is opening flat.
- If I'm not wrong , today will be the sixth straight day of flat opening.
- Friday was a volatile trading session.
- Nifty opened flat and traded negative throughout.
- During the day there was some recovery from the lows.
- Even that recovery got sold into later on.
- Nifty tested 18200 and there was a huge rally after 2 pm.
- So in all it was a flat closing but there was some intraday Volatility.
- Generally last weeks of the expiry are volatile weeks.
- All the contracts get squared up , ie futures and options.
- This leads to Volatile trading moves.
- 18200 -18400 is the short term range on the Nifty.
- 18400 was the recent high and Nifty found multiple supports near 18200.
- So this becomes a short term range for now.
- The way to trade the range is to buy near support and sell near resistance.
- That's where risk reward turns to your favor.
- Long term range is 18000-18500.
- I don't think any of the above levels would get taken out this expiry.
- Nifty might trade between 18200-18400 today.
- Once we get a closing above or below any of these levels then we shall look at the next plan.
- Until then the above plan holds.
- 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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