- US markets closed 0.5% higher Yesterday.
- Asian markets are mostly Positive.
- U.S Futures are down after Trump Announcements for deploying more forces to control the Protestors.
- SGX Nifty is higher by 30 Points and Trading near 9800.
- This has been a big rally for our Markets.
- Nifty is up 10% in last 3 days and Bank Nifty is up 17% for the same period.
- Yesterday at one point, call options were trading at 1400% premium .
- India VIX too inched higher Yesterday.
- Still there are some people saying me that they are Shorting the Market on every rally.
- They will keep shorting until they go Bankrupt.
- From Centuries , people have been saying to follow the Trend.
- Trend is very very clear & thats on the upside.
- So please don't follow your OPINIONS.
- Follow the Trend.
- Earlier Nifty tested 10000 twice, so it is a double top.
- 10,000 should act as a Resistance for Nifty.
- The reason for this rally is big FII's buying.
- FII's sold more than 15,000 crore in the Month of May.
- In the Month end for May , they started buying and have bought more than 7000 crore in 4 trading Sessions.
- Moodys downgraded India rating Yesterday and again people are Expecting markets to crash due to this.
- Credit Ratings now a days should be thrown in dustbin. It's of no use at all.
- 9700 should act as a good buying zone for Intraday basis.
- If by any reason you get dips closer to that level you should latch on to them.
- In Trending Markets if you see a big Candle against the Trend thats a great risk reward trade.
- If 10,000 is taken out we can witness 10200-10500 in coming weeks.
- Reliance was a long term Suggestion from my side around a month ago.
- Those who Regularly read my Blogs should know this and was Suggestion near 1400.
- Now it's already up almost 10% in less than a week.
- Once Reliance crosses 1600-1650 levels it will keep flying higher.
- Must have stock in your Portfolio.
- Trade remains to buy on dips closer to 9700 for Intraday.
- For Swing Traders the Stoploss should be 9500 and keep building long positions on every dip & be patient for a Breakout to happen.
- Markets are likely to Breakout on the Upside in coming weeks.
- After this big rally Expecting markets to take breath and consolidate for a few trading Sessions.
- 9680 - 9980 should be that Consolidating range.
- Financials have bottomed out and will now witness huge short covering rallies.
- 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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