- US markets opened 2% higher yesterday but was under selling pressure in the last Hour.
- In the last hour, S&P 500 lost almost half of the gain.
- That is due to a news report that said Trump is considering sanctions against China.
- Asian markets are mixed.
- SGX Nifty is Flat.
- Another issue which nobody is talking about is India - China Border issues.
- Yesterday , for the first time in May Series Bank Nifty Outperformed Nifty.
- Bulls were Unable to take away the Resistance of 9200 on Nifty.
- Markets fell 150 points from Yesterday Intraday high.
- HDFC ltd even after bad results was up 3% Yesterday.
- Financial Stocks Seem to be bottoming out of their Bear Market.
- On the other hand , Bajaj Finance is making 52 weeks low on a daily basis.
- In Spite of VIX being down , there was huge Volatility Yesterday.
- Both FII's & DII's were net Buyers Yesterday.
- Our Markets are not following the Global Markets
- Dow Futures were up 2% Yesterday but our Markets closed near the lows of the day.
- 9000 PE has the highest open interest in Weekly Expiry.
- If 9000 is taken out on Nifty Significantly then we can expect 50-80 Point quick fall in Nifty.
- Short term range for Nifty is 9000-9200
- Kotak Bank is coming up with a QIP.
- QIP launched with a Max discount of 5% on the floor price.
- Our Markets Seem to be in a Consolidating mode and waiting for some big triggers to respond.
- The Triggers might come from Macro Environment and not from Micro Environment.
- Indian Markets are highly Underperforming the World Markets.
- Nifty is in a Broader range of 8800 to 9200.
- Best Trade is to take Contra trades near the Boundaries as the risk reward is in our Favour.
- Bank Nifty might Underperform today due to Kotak Bank QIP.
- QIP will place pressure on Bank Nifty today.
- So sell on Rallies Strategy can be applied for Bank Nifty near 17800-18000.
- IT Stocks might Underperform today due to Macro tension. So one can explore Shorting Opportunities here.
- 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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