- US markets ended Positive on Friday.
- U.S Markets are making fresh highs almost on daily basis now.
- Asian markets are mostly positive.
- SGX Nifty is higher by about 15 Points.
- Friday , the Markets have opened with a huge gap up but the gap ups are Unable to Sustain.
- This is a no follow through market.
- There is no follow through & it's lagging.
- Also , Markets are Trading within a tight range.
- On Friday , Nifty Traded in the range of just 40-50 Points.
- This is because VIX was below 20.
- I feel that India VIX was made a double bottom near 19.5 and has bottomed out.
- FII's were net Buyers whereas DII's were net sellers on Friday.
- Monthly expiries are always Volatile.
- A big move is expected on any side of monthly Expiry.
- My view is Bearish with a Stoploss of 11500.
- Pharma Sector looks topped out and not much steam left there.
- Auto Stocks are Outperforming and may continue to do so.
- Bank Nifty might continue to Underperform the Nifty.
- Nifty might Trade between 11340 to 11480 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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