- Dow Future's from being -0.8 have turned positive to 0.4%
- US and European Futures are Mindly higher.
- SGX Nifty is Trading around 12970.
- Indicating gap up around 100 Points.
- Volatility is too high in the Markets now.
- On Friday Nifty rested 12700 and almost recovered 200 Points in about 2 hours.
- Markets are moving sideways in a range but with Big Volatility.
- This Gap up of 100 Points isnt Justifiable to me.
- I'll observe the Markets after opening and see the price action.
- If Nifty isn't showing strength near 13k my first trade would be to take a short position with around 50 point stoploss.
- If 13k is crossed , sustained and my Stoploss is triggered I would become Bullish.
- 13k has added big open interest so it will act as a Resistance.
- This week we have weekly + Monthly Expiry both together.
- So Volatility would be much more higher.
- You need to risk a substantial amount of risk to make good money in these kind of Markets.
- Banking sector would be in focus today due to Lakshmi Vilas Bank dissolution news.
- Will it be merged with any bank or not would be a big question.
- Nifty might Trade between 12840-13000 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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