- US markets ended 2% lower Yesterday.
- Asian Markets are also Trading Negative.
- Brent Crude is now below $20 per Barrel.
- SGX Nifty is now Trading Near Yesterdays low ie , 8900.
- Yesterday Reliance recovered 7% from lows & Stabilised the Markets by the day end.
- Today , there is news that Facebook is going to acquire about 10% stake in Reliance Significantly to cut Debt.
- Talk of the Town is Reliance Industries & it will be under the radar for Today's Trading Session.
- Financial Companies ( Banks , NBFC's) are in a Bear Market of their own.
- Bajaj Finance was down 10% Yesterday after already witnessing a 50% cut from it's All time high.
- Insiders know certain things from before & price action on the Stock happens before we hear the news in Indian Stock Markets.
- U.S Markets previously recovered more than 50% from retracement levels.
- Indian Stock Market retracement comes near about 9800 on Nifty.
- Markets are Still Rangebound & have been Trading in a Broad Range of 8800-9350 on Nifty.
- Today , the Bias is more on the Negative side but Reliance will continue to hold Nifty from falling sharply.
- Trump Suspends Immigration Temporarily for 60 days.
- We are in a very Weak Market.
- There is Absolutely no Follow through , Markets are highly Sluggish & Rangebound.
- The way to trade these Markets is to not hold your Positions for too long & wait for Follow through.
- Keep Booking Profits as you get.
- Holding your Positions for long when Markets are in a Rangebound zone can reverse the Markets sharply.
- Reduce your Position sizing to 66% than what you do Normally.
- This way you can manage the risk of being Chopped from the Market.
- Nifty might trade between 8800 to 9100.
- Yesterday I mentioned that once if 9000 breaks we might Witness 8800 in few trading Sessions.
- Once needs to Develop Extreme patience , focus on Trading on either side ( Buy or sell) & wait for your levels to come.
- If you dont follow it , chances are you will be Trapped on both sides.
- 8900 was Witnessed Yesterday & the above view still holds good.
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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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