- US markets closed Mindly Negative Yesterday.
- Asian Markets are Trading higher.
- SGX Nifty is up 70 Points.
- Last week for a Complete Roller Coaster Ride for our Markets.
- Market was changing every day and was giving sharp moves on either sides.
- It was shaking all the Option Writers & Trend Traders.
- People are asking me is the Market Bullish or Bearish?
- My answer is the Market is Rangebound.
- The Range is between 10550 to 10850.
- Market is within this range and is giving sharp moves on either sides.
- IT Stocks have come up with Spectacular results this week and have given Tremendous rally.
- U.S is planning another STIMULUS so this news might not make the Market fall much from here.
- FIIs were net sellers Yesterday but DIIs turned Buyers.
- Expecting the Consolidation phase to continue for a while now.
- Reliance after a big rise for few Months and a sharp fall on Wednesday Afternoon might look to Consolidate now.
- Not Expecting a great deal of Momentum or selling today.
- Generally Fridays are days of Consolidation for Markets.
- Bank Nifty gave a good rally Yesterday but it's also very Weak still.
- Nifty might Trade between 10720-10880 today.
- Do not carry any open Positions over the Weekend of weekly Expiry.
- 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
Comments