- US Markets closed higher Yesterday.
- Dow Futures are also trading higher now.
- Asian Markets are Mindly Positive.
- SGX Nifty is trading around 13k.
- We have 3 more days left for November Expiry.
- Markets are highly Volatile now.
- Yesterday after a big gap up we observed selling pressure but Market recovered by the end of Trading day.
- Bank Nifty underperformed Yesterday.
- HDFC bank led the Bank Nifty fall along with PSU Banks.
- 13k is a Resistance , Markets have reversed 3-4 times near 13k.
- This time the opening is near 13k , will we breakout or will we again witness selling pressure.
- This is a big question.
- Today selling at open might not work out as it worked Yesterday.
- Strength might continue today if Bank Nifty contributes and Participates.
- Reliance started to rally after a 20% correction.
- IT Stocks outperformed Yesterday.
- 13000 CE has the highest open interest , so if this level breaks then option writers who sold 13k CE will be trapped.
- They would cover their postions and that would itself take Nifty higher.
- Today it's better to watch the action for first 30 mins & then decide.
- If we sustain above 13k in first hour then it's a breakout.
- We May consolidate near 13k before Breakout.
- Nifty might Trade between 12880-13040 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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