- U.S Markets were down 2% Yesterday.
- But now there seems to be a recovery and Asian Markets are Trading Positive.
- SGX Nifty is up about 50-60 Points now.
- Yesterday as Europe Markets opened, the news came that US 2 Trillion$ suspicious money handled by Banks.
- This Triggered a big sell off in Banking stocks all over the World.
- To just let you know the magnitude of this news , Indian Economy is 2 Trillion$ & the Amount of Scam figure was Equal to Indian Economy figure.
- U.S is considering another Lockdown to control the Corona Virus spread.
- Indian Cases are now more than a lakh per day.
- Indian Govt doesn't seem to be worried about it nor does Indian Media.
- Both are busy looking after "Bollywood".
- Bank Nifty was already very weak.
- 22000 was the support area of Bank Nifty and it broke decisively so more selling pressure witnessed.
- Markets will be Irrational and choppy.
- 11200 is a strong support on Nifty and if that's taken out we can witness further crash.
- First half is very critical, if we break 11200 then 2nd half is an opportunity to short.
- If we hold on in the first half or consolidate we can witness short covering in 2nd half.
- Sold 11250 & 11200 Straddle Yesterday @250rs each (This Expiry).
- VIX was up 14% yesterday at one point so took the Opportunity to create Straddle.
- Nifty might Trade between 11180-11340 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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