- US markets were up 2% .
- Asian markets are Flat
- SGX Nifty is also flat.
- October series has started on a great note for the Bulls.
- Bank Nifty up more than 1200 Points and Nifty up more than 400.
- There was some excessive shorting on the last Expiry and that has been covered now which we call as Short covering and that's the reason of the rally.
- Market will repeatedly question you that are we in a Bull Market?
- When Corrections are being witnessed.
- And After a big correction it will get back to its normal ways of a Bull Market rally.
- RBI Policy is also Postoponed.
- Maybe RBI is waiting for Supreme Court Verdict wrt. Interest on Interest case going on.
- After the Court Verdict RBI may come up with their decision soon.
- Interestingly , Supreme Court Verdict has also been Postponed.
- Indian Judiciary , you know:)
- FII's have stopped selling upto now for this Expiry and DII's have started buying.
- This is the main reason of the short covering rally.
- I'm not interested to play the Upside now as a Trader.
- Remember you always need to have a one sided view.
- You cannot trade the Upside as well as downside.
- When Market gets into my Zone to short I will look to short.
- Rallies like these are a dead cat bounce and can be trapped.
- Around 11350-11400 I would like to explore shorting Opportunities.
- Until then Just focus on Equity Stocks and enjoy from the Sidelines.
- Madagon Dock Shipbuilders IPO opens today.
- Do not forget to Apply for this for huge listing gains.
- Nifty might Trade between 11140-11320 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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