- US markets closed 2% higher Yesterday.
- Asian markets are in Green but off their highs. Some markets are turning negative.
- SGX Nifty is down by about 50 Points and Trading near 9000.
- Yesterday in first half Nifty was Trading between 8900 to 9000.
- Second half of closing we Witnessed a short covering rally towards 9100 but this level Couldn't be broken.
- FII's were net sellers Yesterday and DII's were net Buyers.
- India VIX & U.S VIX are declining Contineously.
- This shows that the fear is lowering amount the Stock Market Participants.
- Financial Stocks Witnessed a short covering rally Yesterday.
- Bajaj Finance also ended 5% higher after it's results .
- 9100 CE has the highest open interest today for the Weekly Expiry.
- Once this level is taken out we can witness another rally of 50-60 Points on the Nifty.
- Until then not Expecting any Big moves for Markets today.
- First half is likely to be in a Consolidating phase.
- Government is Slowly opening up Airlines , Raliways in a phased manner.
- Restarting of Economy is the biggest STIMULUS for our Economy.
- Sold 9300 , 9400 CE also Added 9250 CE Yesterday.
- Sold 8800, 8700 , 8600 PE .
- All these Trades are of Weekly Expiry and are likely to open at single Digits today.
- Sold 16800 Bank Nifty PE & also 18500 CE.
- IT Stocks are looking weak & will continue to face weakness this Expiry.
- Nifty might trade between 8950 to 9150.
- Bank Nifty might trade between 17300 to 18000.
- 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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