- U.S Markets closed lower on Friday.
- Asian markets are mostly lower.
- Dow futures are slightly lower right now.
- SGX Nifty is down 70 points.
- Friday we had a massive sell off in the markets.
- Advance Decline ratio was also very bearish.
- Number of stocks falling were almost 4X for number of stocks rising.
- This isn't a good sign at all.
- As i mentioned before that Nifty is likely to test its 20 DMA.
- 20 DMA is around 18400 for nifty.
- On Friday, this level got tested and then nifty recovered swiftly.
- There was a swift short covering rally during the end of the day.
- Expecting 18400 to be a good support for now.
- If this breaks then 18200 opens up.
- This week is likely to be highly Volatile as well.
- We have many data points coming up.
- Today we have India CPI data.
- Tomorrow U.S CPI Inflation data.
- Wednesday we have fed meet.
- So all these events will make markets volatile
- Nifty might trade between 18380 to 18600 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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