- US markets were up 2% Yesterday & Majority of Asian markets are Positive.
- SGX Nifty is almost Trading a flat terrain now.
- On Wednesday we Witnessed selling in Bluechip Stocks like Kotak Bank , HDFC Bank etc. This seems to be a phased manner selling by ETF's.
- Nifty & Bank Nifty both ended Negative by 4% on Wednesday.
- World Bank has Approved 1 Billion $ Emergency Financing for India to Combat Covid 19.
- Crude prices are up by 25% as talks on talks between U.S & Saudi Arabia to cut the Production to 10 Million Barells.
- Honourable PM. Mr. Narendra Modi has announced to post a Small Video by 9 AM today of his Official Twitter handle.
- This might change Complexion of the Market today.
- FIIs and DIIs are turning to be net sellers almost on a daily basis now.
- VIX was down 6% on Wednesday which signifies that at least some buying has begun and Panic selling is stabilising.
- Expect India VIX is likely to trade below 50 by End of April.
- I expect the Lockdown to be Extended but it will be Extended in a phased manner.
- Whole India may not be locked down but Hot Spots like Delhi , Mumbai are likely to be locked down further.
- Cases of Corona Virus in India and all over the World are Tremendously Increasing day by day.
- Expect Markets to trade between 7500 & 9500 for this Expiry Series.
- Monday is a Holiday for the Stock Markets.
- This week too , Markets would operate only for 4 Trading days. Option buyers should take a note of this and Plan Accordingly.
- April Month is very Crutial for Stock Markets. If we protect 7500 on Nifty then we could witness a decent rally towards 10,000 on Nifty in coming time.
- Do not carry your Positions over the Weekend and also this is a 3 day Extended Weekend. So chances of Excessive news flow is very very high especially in Current Scenario.
- Crude Sensitives like HPCL , BPCL might be in focus today along with ₹ sensitive IT Stocks.
- Too much of news is present today and PM's Video message is also awaited so Traders should wait for Markets to Digest all these News and then trade in 2nd Half if Picture is clear.
- Broad Range for Nifty is 8000-8600.
- Expect Finance Stocks to continue to Underperform specially the NBFC Companies.
- U.S. Unemployment data is at record high which shows that we have already entered into Recession phase. As far as India is concerned it's likely to go much worse.
- Sell on Rallies Strategy should be applied today on Both the Indices ( For Intraday) if there is no Positive Incremental News from any Front. Traders should keep an Eye on Everything happening all over the World as it may immediately change Stock Market Perception.
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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