- US markets ended flat. U.S Markets have been Consolidating from last week.
- Asian markets are also Flat.
- SGX Nifty is now flat near 11270.
- Yesterday I mentioned that Friday yas just a shake off and the Trend would bail us out.
- Yesterday Markets Consolidated until 3 pm.
- Bears tried their best to pull Markets Lower but Couldn't.
- Finally in last 30 mins we Witnessed a good short covering.
- August Month has been a Month of Consolidation.
- Nifty has been Moving all over the place but mean is about 11200.
- Expecting Markets to Consolidate with a big Positive Bias.
- Reliance Underperformed Yesterday and in Spite of that Nifty closed 0.5% higher.
- This shows that Broader markets have also started to perform.
- Midcaps have been Outperforming since the March crash.
- Small caps too have been in a league of their own.
- Underperformer in this Market is Bank Nifty.
- Nifty is just 7-8% from all time highs.
- But Bank Nifty is more than 50% away from it's all time highs.
- HDFC Bank after Aditya Puri stake sale has been Underperforming significantly.
- This is still a buy on dip Market.
- There is a time to buy , time to sell and time to do nothing.
- Now is the time to buy on dips.
- Nifty might trade between 11180-11360 today.
- 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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