- US markets closed more than a Percent lower Yesterday.
- Trump has halted the second Stimulus.
- He Announced that Stimulus will be given a consideration after November Elections.
- But Asian Markets are mostly Postive.
- SGX Nifty is around 11700.
- Trump halted Stimulus talks.
- There has been a one way rally for Nifty from 10800 to 11700 is less than 10 trading sessions.
- 11800 was the recent high made by us if this gets broken then 12000 is the target.
- But I think it would take some time and wont happen Instantly.
- In this low Liquidity and Volatile Market delivery option selling is quite risky.
- Better to close Positions Intraday.
- The view remains strong buy on dip on both indices.
- Specially for Bank Nifty as it has been Underperforming from quite a long time.
- Also be prepared to handle Volatility.
- Shorters can explore short trade near 11800 on Nifty as that would be a huge resistance.
- FII's have turned net buyers.
- When they turn into buying mode after continue selling then such magic happens.
- IT sector looks on phenomenal Bull run.
- This is to be entered on Every dip and Consolidation.
- Yesterday markets shot up in last hour and broke resistance of 11600 which is a sign of strength.
- Nifty might Trade between 11640-11820 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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