- Dow was up 1000 Points on Wednesday & Down 1000 Points Yesterday.
- World markets are down, due to Corona Virus fear.
- Markets are struggling to cope with Corona Virus.
- What's more worse is that at the wrong time RBI has taken action against YES Bank.
- YES Bank Board taken over by RBI, limits withdrawals.
- I have been Repeatedly saying in Public to avoid Yes Bank since the levels of 120-130.
- This will create panic in SGX Nifty & will pose a Question about our Indian Banking System.
- SGX Nifty has hit a low of 10800.
- YES Bank issue has been handled just like US handled Lehman Bros.
- US Fed cut rates by 50 basis point before markets open last Tuesday.
- RBI will have to do something like that, otherwise, panic will be more.
- US Govt as well as Fed are Working very hard to drop down the Panic and Fear & grow the Economy. In India, it is doubtful.
- BJP 2.0 do not seem to bother about Economy. They are worried about Citizenship , Shaheen Bagh , Cast Based Politics etc. This Government never talks about the Economy and the Growth of Capital Markets.
- PSUs are great wealth destroyers in the last decade & will continue to be so.
- It will be difficult to short the market at this time as bounce can come any time. Shorting a 150-200 gap down is Quite risky.
- From past few days i was thinking that Markets are forming a base , worst is over & we will recover from here.Suddenly this YES Bank issue has come.
- Expect both YES Bank and SBI to crash today. Won't be Surprised if Yes Bank opens 50% today.
- IndusInd Bank will see the collateral damage.
- FIIs keep selling in Cash market.
- They also have huge short positions in F&O.
- On any bounce, keep shorting the Markets this seems to be Working now.
- First 45 minutes, there will be huge volatility. Do not take any Positions , wait for the Markets to settle down & observe.
- Those who have Invested in Yes Bank should ask themselves why have they Invested in it? Have they done any Proper Research before Investing? This should be a big lesson for them that investing in Companies without any Research will cost big.
- Many are feeling Sad for Rakesh Jhunjhunwala as he lost about 80 Crores in Yes Bank Shares. Which ISN'T even 0.005% of his total Portfolio. So my advice would be to first take care of Ourselves Rather than Worrying about others.
- In my 11 Years of Experience i learnt:. What looks Cheap will be available much cheaper. What might look very Cheaper might go to Zero. This sums up Yes Bank Story.
- Do not carry any Positions over the Weekend. One never knows what news might come in Weekend & it will have a Major impact on Monday.
U.S Markets closed higher yesterday. Most importantly , S&P 500 VIX crashed 10%. There was huge Volatility in global markets due to Fed event. Markets remain volatile only when they have topped out or have bottomed out. Right now I feel we have bottomed out at 16850. Asian markets are slightly lower now. Dow futures are lower. SGX Nifty is at 17500. Finally , the most awaited day has come. Budget 2022 is going to be presented today. Expectations are of a good and stable budget. Reasons are the Elections coming up and LIC IPO in March. Govt very well knows if LIC IPO has to go through , Market sentiment has to be good. Without good market spending it would be very difficult for IPO to go through. Market had already fallen a lot before the budget. Although we have rallied in last 2 days but still we have some upside left. Though I feel it's not favourable to chase today's gap up. Today's gap up is a good opportunity to book profits those who carried longs. Bud
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