- US markets Opened on a Negative note Yesterday but closed higher.
- Asian markets are mostly Trading higher.
- SGX Nifty is almost flat / Positive.
- Yesterday FII's were net sellers and they sold heavily in Pvt Sector Banks.
- Bank Nifty Underperformed Significantly yesterday.
- Due to Bank Nifty Underperformance , Nifty also was dragged.
- Supreme Court ruling on loan moratorium case is due to today.
- This is the reason why Bank Nifty under performed yesterday.
- Due to Uncertainty because of Ruling , FII's must have booked some profit.
- I expect the Verdict to be a Non event today and it might be postponed further.
- How will the Markets react to the same will be Interesting to see.
- 15000 CE added highest open interest yesterday.
- So this can act as a stiff resistance for this expiry.
- March series was highly Volatile and generally in the last week Market makes a big move.
- Expecting a big move in these 3 trading sessions.
- But for that to happen Nifty should either cross 15k or break 14500.
- As long as Nifty trades within this band this is going to be a ranging sort of Market.
- VIX declined significantly yesterday and closed below 20.
- Yesterday Markets were not much Volatile but today things might change due to SC Verdict.
- U.S VIX was down 10% Yesterday.
- Nifty might Trade between 14680-1492 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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