- US markets closed Positive after quite some time yesterday.
- Asian markets are also recovering.
- SGX Nifty is higher by 120 Points.
- Yesterday was the Most Volatile Expiry I've seen in my entire lifetime..
- Bank Nifty opened Positive then went down 1000 Points , recovered 1000 Points post 1 pm and then after 2.45 fell 700 Points.
- This type of Volatility is Unbelievable and quite insane.
- Yesterday I mentioned that my view is Bearish / Neutral.
- So the idea was to sell Call options and it made fantastic return Yesterday.
- Yesterday was the first month after March 2020 where Nifty has closed Negative.
- FII's have turned net sellers now.
- This is the time to stay cautioned.
- Look for Sharp bounces to sell Into.
- April is a long series and it has 5 weekly expirys.
- Yesterday we fell a lot more due to Expiry issues.
- Expecting Markets to recover around 14400-14500 in the short term.
- Nifty might Trade between 14220-14480 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
Comments