- Gulf markets are open on Sundays as they are closed on Fridays.
- Yesterday Kuwait market fell 10% and hit lower circuit and hence it was closed.
- Saudi Arabia down by more than 8%.
- Brent Crude fell from US$50 on Friday morning to about US$31 today morning.
- All Global markets are down.
- Nikkei, Hang Seng down by more than 1000 points & also DOW futures also down by more than 1000 points.
- Most markets are down by 4%. European futures also fell 4%.
- SGX Nifty is down by about 300 points.
- This crash is the worst after 2008 financial crisis.
- Crude is down by 25% while Gold is at all time highs US$1700.
- So it is absolute panic everywhere but India's position may not be that bad.
- India is a beneficiary of fall in Crude prices as we are the biggest Importers of Crude.
- India has already fallen due to local cues like YES Bank issue ,so the fall may not be very bad here.(In line with Global Markets)
- Nifty had hit a low of 10670 on Sep 19, 2019. We can expect an Intraday Bounce from these levels on Nifty.
- Right now SGX Nifty indicates that level.
- So if markets stabilise here, this could be the double bottom but fundamental news flow do not suggest that.
- We can expect some coordinated action by some Central Banks now.
- Corona Virus wiped out 400 points in Nifty, then YES Bank issue another 400 points and now Crude another 400 points.
- Do not know what next? The fear is at its peak, if I am not wrong.
- There is no need to look at FII figures and DII figures.
- Expect another 1000 point fall in Bank Nifty.
- I have been Repeatedly saying not to buy on Indices. This is a long term issue & won't be solved Instantly.
- On Friday , the S&P Volatility touched 50 which is the highest ive ever witnessed after 2008.
- Expect Volatility in India to touch 30 today.
- In such Volatile Markets the best way to Trade is to reduce your Position size to 50% & work with strict Stoploss..
- Markets are closed Tomorrow , a relief for the Bulls as at least there is no chance for Markets to fall Tomorrow:-)
- Markets started Celebrating a Month ago. Unfortunately the colour which they are using is just "RED"
- Capital Protection should be the Primary Aim for a Trader in these types of Market. Remember that if you survive if you have Money you can earn much more in Future. If you trade high in such Markets you may be out of the Game. Always Consider risk firstly before entering into a Trade , returns should be considered Secondary.
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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