- US markets closed a Percent higher on Friday.
- Asian markets are Trading Positive.
- Almost everyday we are witnessing gap up of more than 100 Points on SGX Nifty.
- SGX Nifty is up 120 Points & Trading near 9350 as of now.ie , 8.18 AM.
- Reliance is the star of the Show & has given more than 90% return from lows of March.
- Nasdaq has turned Positive for the Year & S&P 500 is up more than 50% from it's lows of March.
- ICICI Bank Announced Results over the Weekend and the Profits took a hit due to higher Provisioning.
- SBI Cards results were announced over the Weekend & Profits were down 66%.
- This was due to no Repayments from Card Holders as RBI has given 3 Months Moratorium Period.
- India may Announce it's Economic STIMULUS Package this Week.
- Several Meetings were conducted over the Weekend over the Discussion related to Economy.
- Bank Nifty is Underperforming Compared to Nifty and ICICI Bank might drive the Bank Nifty movement today if it reacts Violently based on Results.
- FII's were net Buyers on Friday and DII's were net sellers.
- Kotak Bank is going to Announce it's Results on Coming Wednesday.
- In United States , there is a saying " Don't mess with the FED".
- In India , Traders should develop a saying " Don't mess with RBI".
- As long as Government is initiating actions and measures related to Economy one should be Cautious and avoid excess Pessimism.
- Nifty is Trading in a Range of 9100 to 9450 now.
- Markets are fairly lack lusture and there is no Movement / Follow Through.
- Best Thing to do is to sell Gap ups and Buy Gap downs.
- Not Advisable to chase gap ups as Risk - Reward goes out of Favour.
- I do not Expect Nifty to go below 9000 this Expiry.
- Upside Potential remains much higher.
- Once Nifty crosses 9450-9500 & Sustains.
- We can witness the Previous highs of 9850-9900.
- Nifty may keep Consolidating in the above Mentioned Range for 1-2 Days and after the STIMULUS package Announcement it might Break out.
- On the other side I am not Expecting much from the STIMULUS Package but Sentiments might drive markets higher.
- Advice Remains to Sell the Rallies and buy the Dips.
- Don't hold your Positions for too long and come out with what Markets have to offer.
- Buy and Hold Option Buyers will be Trapped this Expiry as well.
- 19000 to 20500 is the Range for Bank Nifty.
- Nifty might trade between 9200 to 9450.
- Government Companies , PSU Banks , MSME Sector should be Focused on the Equity Front as Economic STIMULUS would benefit these sectors.
- stockmarketadvisory.in
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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