- US Markets opened Positive Yesterday but Ultimately closed in Red.
- Nasdaq is also Trading lower.
- Asian Markets are mostly in Red.
- March would be the first week where Nifty has expired Negative.
- FII's have started to sell.
- When FII's press sell Button this is how Market falls.
- SGX Nifty at one time was below 14500 but has recovered now.
- 14500 is a near term support for Nifty if that breaks then next support comes around 14350.
- Same way 14700 CE has added highest open Interest yesterday.
- That would act as a resistance today.
- Monthly Expirys are more Volatile than weekly Expirys as there is excess participation.
- Futures Contract Expiry also happens the same day.
- Plus rollover of some Futures Positions too.
- This creates added Volatility.
- I have sold Many Call Options.
- 14750 CE , 14800 CE , 14700 CE on Nifty.
- Have sold 34000 , 34100 , 34200 , 34300 , 34400 , 34500 CE on Bank Nifty.
- Will look to exit these trades in first half as premiums would come to single digits mostly at open.
- Will convert the Positions to next Expiry ie , 1st of April as we have a Holiday next week.
- Next week we have only 4 trading sessions.
- Today's view is Bearish / Neutral.
- Nifty might Trade between 14360-14700 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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