- US markets closed higher yesterday.
- Asian markets are all over the place.
- SGX Nifty is trading near 14200.
- Last couple of days , Markets have been witnessing steep Correction in first half.
- Inviting short sellers and then trapping all bears.
- Closing higher every single day.
- Currently , Elections are going on in Georgia.
- For two Senate seats, counting is in action.
- Democrates are ahead in this race
- That may take some time.
- On Friday, they will open postal ballots.
- Boris Johnson cancelled his trip to India amid new Corona virus cases.
- Yesterday the star of the show was Axis Bank.
- It went up 6% and carried Bank Nifty with it.
- President Trump is yet to concede the defeat, even after more than 2 months of US Elections.
- Coming back to our markets, day before yesterday, all sectors did well, except Banks.
- Yesterday Banks out performed.
- Bank Nifty recovered 800 points from intraday low to high.
- Reliance, as usual, under performed and is in Consolidation phase.
- Bajaj Twins are under performing for last few sessions.
- Bajaj Finance fell about Rs 300 from recent high.
- FII's were net buyers and DII's net sellers.
- Both have reduced their Volumes currently.
- Pharma companies have started to get U.S FDA warning letters.
- So these stocks will be in focus today.
- Nifty might Trade between 13130-13320 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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