- US markets closed a bit higher Yesterday.
- Dow Futures is Trading Mindly Negative now.
- Asian markets are a bit Negative.
- SGX Nifty is Trading near 11100.
- Last 20 days , Nifty has shot up more than 1000 Points.
- This was a brisk one way rally in the Markets.
- Markets cannot keep going at the same pace.
- A small correction of 100-200 Points on Nifty & 400-600 Points on Bank Nifty is due.
- When will this correction happen? No idea but it would be good as it would shake out weak longs.
- 11200 seems Difficult to cross for Nifty & 23000 seems Difficult to cross for Bank Nifty for now.
- Expecting today Expiry to be Rangebound with Big Swings within the Range.
- Expecting the Range to be between 11000-11180 unless anything major event pops up in Global Markets.
- FII's were net Buyers Yesterday so Markets won't fall very Big from here.
- "Correction" is Different from "Crash" please note.
- Expecting a very Volatile Expiry within the Range.
- So one can sell Call options at the higher end & sell Puts at the lower end.
- If this range breaks , then we could see Trending move.
- Which Seems a big Unlikely as of now.
- Reliance has Crossed 2k mark and that has had a Phenomenal rally.
- Small correction of 100-150₹ in Reliance would be likely from here.
- Bank Nifty might Trade between 22400 to 23000 today.
- Consult your Financial Advisor and Trade on your own risk.
- 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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