- US markets closed Positive on Friday.
- Asian Markets are also Positive.
- SGX Nifty just above 12k.
- More than 1000 Point rally in last 2 weeks.
- Bank Nifty still not even near it's previous highs.
- October series has been just One way rally for the Bulls.
- Now 12k is also achieved.
- Broader Market still not upto the Mark as the Nifty.
- Few sectors and Stocks contributing this rally.
- Financial sector is still a laggard.
- Results season begins again.
- WIPRO is coming up with it's results today.
- 12k should act as a Resistance level at least for some time.
- If we get a closing above 12k today then next target is 12200.
- So today's closing is very very important as far as im concerned.
- U.S Stimulus also is a major event.
- If that gets clearance then all time high won't be far.
- We are around 4.5% away from all time highs now.
- A word of caution also not to be overly Optimistic.
- Go long with proper Stoploss and not just Blindly.
- Because this Market cab turn on its head.
- Next 3 weeks are going to be highly Volatile as many events lined up.
- Nifty might Trade between 11900-12060.
- 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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