- U.S Markets closed slightly lower yesterday.
- Asian markets are mixed.
- Dow futures are slightly lower right now.
- SGX Nifty is trading flat.
- Yesterday it was all about RBI expiry.
- It was expected that RBI would raise repo rate by 35 basis points.
- Exactly the same thing happened.
- RBI as expected raised repo rate by 35 basis points.
- Market went through a short covering rally as soon as this was announced.
- Nifty recovered 60-80 Points.
- Later on when RBI commentary began it was mostly on the Hawkish side.
- Once 18600 got broken market inched lower.
- Last 30 minutes yesterday was highly Volatile.
- Nifty had a short covering rally and crossed 18600 only crashing 80 points from there.
- So now the trend has reversed.
- 18500 is the next support now.
- 20 DMA is around 18440.
- As I said few days ago , buying near 20 DMA is advisable for trend followers.
- Now , market is giving a nice entry level.
- From 18900 to 18550 , Nifty reversed quick and sharp.
- Nifty might trade between 18450 to 18700 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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