- US markets closed Flat Yesterday.
- Dow Futures now are mildly positive.
- SGX Nifty is Trading near 13250.
- Markets all over the world are going through a Consolidation phase.
- Yesterday expiry was also very flat.
- Nifty moved within a range of 60-70 Points only the whole Yesterday.
- Bank Nifty is unable to cross 30k.
- 12200 seems a conjession zone for Nifty.
- If we get a closing above any of these levels.
- Then it is a confirmed Breakout.
- Yesterday Nifty Futures were Trading at 70 Points Premium compared to spot.
- Yesterday HDFC Bank corrected as RBI restricted then to issue credit cards due to which Bank Nifty corrected and which also had a slight impact on Nifty.
- If it was a negative news for HDFC bank it was positive for SBI cards as it gained 5%.
- Going by the data Market looks Bullish again.
- Today if we get a closing above Resistances then it would be apt to buy calls or sell puts.
- Another Important factor to note today is RBI Policy which is at 10 AM today.
- So Bank Nifty might be Volatile for 1 hour today.
- PSU Banks are outperforming private Banks.
- SBI was up 4% Yesterday.
- Nifty might Trade between 13110 to 13280today.
- stockmarketadvisory.in
- Question of the day by MR. Nikhil.
- What is Support and what is Resistance?
- Support, or a support level, refers to the price level that an asset (Stock , Index etc) does not fall below for period of time. An asset's support level is created by buyers entering the market.
- On Wednesday Nifty made a low of 13000 and bounced back from there so for swing & short term traders who wish to go long can keep a Stoploss below 13k
- Resistance, or a resistance level, is the price at which the price of an asset meets pressure on its way up by the emergence of a growing number of sellers who wish to sell at that price.
- All time high for Nifty is around 13220 & Nifty has retraced many times from this level.
- So this is a Resistance
- Closing below Support is known as Breakdown & Closing above Resistance is known as Breakout.
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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