- US markets closed Lower Yesterday.
- A Normal profit booking after a Fantastic rally.
- Markets are Consolidating now.
- Asian Markets are all Trading lower.
- SGX Nifty is Trading near 11870.
- Down by about 50 points.
- 12000 as acting as a stiff resistance now.
- At least for a short term.
- Once this breaks then look to initiate longs.
- Until then look to build Positions towards down side.
- Wipro declared results today.
- But they were not as per Street Expectations.
- Stock has already Rallied and doubled in last 2 Months.
- Expecting some profit booking here.
- IT stocks have entered into profit booking mode.
- Corona Vaccine is not going to come at least for next 3-4 Months.
- Many Research Agencies have paused Trials after getting Negative Results.
- FII's have been buying continuously for last 10 days now.
- Whereas DII's are booking profits.
- Expecting a few weeks on Consolidation in the Markets.
- We have run up too fast.
- Nifty might Trade between 11780-11960 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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