1. U.S Markets closed lower on Friday.
2. Right now , U.S Futures are lower.
3. Asian markets are lower.
4. SGX Nifty is down 20-30 Points.
5. Friday it was a turnaround session for the markets.
6. Markets were crashing throughout the week due to Adani fiasco
7. On Friday there was some positive news about Adani Bonds by a credit rating agency named Moodys.
8. This led to Positive sentiment in the stock
9. Leading to a large rally in the markets.
10. Also as people have shorted and sold heavily for whole of the week.
11. The Positions when squared up lead to a short covering rally.
12. As traders do not like to carry trades over the weekend.
13. 90% of all the worst has happened over Adani group stocks
14. I do not think there could be any more worse than this that could've happened.
15. There was a valuation overhang which got corrected.
16. These stocks also have an overall impact on the market sentiment.
17. So discussing about them would help us to Guage overall sentiment.
18. All the Insurance stocks are down by 15-20% after there has been announcement in the budget.
19. It's a good time to buy insurance stocks coz I feel they would get accustomed to the new regulations.
20. SBI has again come out with blockbuster results.
21. Nifty might trade between 17700 to 18000 today.