- US markets closed flat Yesterday.
- Markets all over the World are in a Consolidation phase.
- Consolidation is the need of the hour for Bulls.
- Consolidations and Corrections in Bull Markets bring more Strength and Pace to the Markets.
- Asian markets are mostly down.
- SGX Nifty is up 40 points.
- 15260 seems to a strong resistance for our Markets now.
- We have been failing to break through the range.
- We have broke out of the range and went higher than 15260 level but failed to sustain.
- 15300 Straddle has the highest open interest.
- So expiry can be expected near this level unless another big move / spike appears.
- HDFC Twins were weak Yesterday.
- They contributed more to the downside.
- On the other hand , PSU Bank index rallied 6% Yesterday.
- PSU Banks kept the Bank Nifty breadth intact.
- The reason is that there were some restrictions announced by RBI for Housing Finance Companies.
- Currently it seems like all the sectors and stocks have been peaked out.
- Market needs fresh news or Trigger to continue Momentum.
- Nifty might Trade between 15120-15340 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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