- US markets closed on a Flat Note Yesterday.
- Asian Markets are also witnessing some Profit Booking after a Fantastic rally.
- SGX Nifty is 40 Points higher and Trading near 10050.
- Nasdaq hit an all time high Yesterday but closed lower by EOD.
- Yesterday some Unusual Thing Happened in Options Market.
- Bank Nifty Options for weekly Expiry were not showing the True prices.
- One tick was showing ₹60 and next tick ₹95 etc etc.
- Many BROKERS closed Market orders , many Bank Nifty Traders lost huge Yesterday.
- NSE is still Silent to this issue. They should come out & Admit this issue.
- Amidst all this , another Big news Came for Banking Stocks Yesterday.
- There was a Petition being filed in Supreme Court for waiver of interest for Businesses.
- Supreme Court was firm to waiver off the interest.
- RBI said ₹2 lakh Crore will be lost if interest is waived for Businesses.
- There seems to be a clash going on between SC & RBI now.
- After this news broke out all Banking Stocks started to fall.
- Expect Bank Nifty to unperperform in the wake of this news.
- My Long Term Recommendation , Reliance Stabilised the Market Yesterday & closed 2.5% Higher or else there would have been a bigger fall Yesterday.
- Another Positive News for Reliance Shareholders.
- Abu Dhabi Fund Mubadala has Invested ₹9093.6 crore in Reliance Jio Platforms.
- FII's were net Buyers Yesterday and DII's continue to sell.
- Expecting Markets to be Consolidating for some time now.
- Global Markets are Positive but local cues for Banks are not that Great.
- Without the Help of Bank Nifty , Nifty cannot keep going ahead.
- So the larger Range for Nifty is now between 9800 to 10200.
- Expecting this Range to remain for some time now.
- Intraday range is 9950 to 10150.
- U.S VIX is now below 25 and India VIX is still above 30.
- Expecting India VIX to fall below 25 in coming days which will be good for Hedge Traders .
- Bank Nifty seems weak and is in a sell on rise zone.
- Do not carry any Positions over the Weekend.
- 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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