- US markets closed at record highs & up 0.5%
- But Asian markets are not mixed.
- SGX Nifty is almost Flat.
- Yesterday for the first half Nifty traded only within 30 Point range.
- Second half was witnessed by massive short covering.
- Bank Nifty & Nifty were up significantly.
- I did mention in my previous blog that If 11500 crosses and sustains we would witness 11600 instantly.
- We are not far from the targets.
- FII's were net buyers yesterday but DII's were net sellers.
- Shared an SBI Strategy on Telegram and it's running at 6k profit per lot.
- Link of Telegram Channel
- https://t.me/moneymakingtrickss
- Today Expiry seems to be on the Bullish side
- But you never know with Monthly Expiries.
- Big Moves might also happen.
- As an Option seller we have stuck to Equity Option Selling and have avoided Nifty & Bank Nifty as Volatility is always high for Monthly Expiry.
- Today will look to sell on every dip.
- Bank Nifty has been Outperforming the Nifty.
- PSU banks looks strong and are joining the party.
- I have sold Out Options of all Banking stocks.
- Sold ICICI Bank 385 PE , HDFC Bank 1110 PE , Axis Bank 455 PE , SBI 205 PE.
- All are likely to open below 0.5 paise.
- Nifty might Expire between 11460 to 11640 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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