- US markets were Trading Negative on Friday but in last 45 minutes U.S Markets closed in Green from being down more than 300 points.
- Asian Markets are all over the place and are Trading Mixed.
- SGX Nifty is Trading Negative by 60 Points.
- First thing which im noticing in all the Markets is contraction of Markets.
- Contraction of Markets means a few stocks performing well , mostly index heavy weights.
- U.S Markets the highest Weightage is of Amazon and it has come up with great results
- Indian Markets , Reliance has more than 15% weightage. Due to Reliance itself , our Markets have Witnessed big rally in the Month of July.
- So these handful of index Heavyweights are only Rallying.
- Other way of looking at it is Bank Nifty seems to be very Weak.
- Banking stocks havent joined the rally yet.
- So Bank Nifty is a major index to measure about Economy.
- Because of handful of companies Nifty crossed 11k.
- Auto Sales have imported Considerably and all the companies have posted very good sales numbers over the Weekend.
- This Thursday we have an important RBI Policy.
- This would be a major event for Bank Nifty.
- Advice is to remain Cautious on the upside.
- 11000 is a major support on Nifty and 11300 is a major Resistance.
- Once 11000 breaks then we may witness further selling in the Markets.
- FII's have turned Net Sellers whereas DII's remain Buyers.
- Reliance also seems to have lost it's Momentum and has Corrected 5-6%.
- August Series will be highly Volatile and Trading without Hedging can lead to destruction of Capital.
- SEBI new rules will be Implemented in a Staggered manner from Dec 2020.
- All the Intraday Traders who used to get fancy 15-20 times Leverage will become a history now.
- Positional Hedging seems to be the next good way to trade.
- Nifty might Trade between 10920-11060 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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