- US markets closed a bit lower Yesterday.
- Right now U.S Futures are also a bit lower.
- SGX Nifty is Trading around 13400.
- Asian Markets are mostly Flat.
- Yesterday even when Asian Markets were lower along with Dow Futures we kept going higher.
- 100 Point Gain for Nifty in a day is a joke now.
- Almost everyday we are witnessing this Scenario.
- Yesterday's rally could be attributed to short covering.
- There are excessive shorts in the system and all are being trapped.
- FII's inflow not stopping.
- It seems like they understand the real Potential of India.
- Our Indian People are unable to do so because DII's they keep selling.
- I feel this is a time to be cautious on the upside.
- We have run up too quick too high.
- There has not been any significant Correction since November.
- If it comes it will be quick & big.
- 13500 CE has the highest open interest in weekly options so this is a resistance.
- On the lower side 13000 was the support as it had highest open interest.
- But now option writers have shifted to 13200 PE.
- So we might consolidate In this range.
- As the Vaccine news gets more stronger Pharma stocks keep flying.
- Pharma & IT are the places where you should focus as a trader.
- Nifty might Trade between 13240-13460 today.
- stockmarketadvisory.in
- Question of the day
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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