- US markets closed higher Yesterday.
- This Market is changing trend with each passing day.
- After FED minutes everyone was Bearish but market retrased again.
- Asian Markets are also higher.
- SGX Nifty is up by 100 Points.
- 11500 is the area where highest open interest in option chain
- Which means highest call writing .
- So this will act as a Resistance unless people start shifting over.
- I am Expecting a correction in our Markets now.
- A correction of 200-300 Points.
- Reliance is below 20 DMA.
- Markets are at all time highs.
- So there is a good risk reward in this trade.
- Shorting near 11400-11450 would have a risk of 75-100 Points but if it works it can fetch you 200-300 Points.
- Trading is all about Analysing risk & reward.
- Nothing is certain here.
- If you want to be right every single time , trading is not for you.
- You cannot be right every single time.
- 11500 is the Stoploss for Short Trade.
- I might be wrong also , so trade on your own risk.
- 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
Comments