- US markets closed slightly lower Yesterday.
- SGX Nifty Yesterday night was near 14950.
- Right now SGX Nifty is around 14850.
- Asian markets are a bit weak.
- Hence this weakness in SGX Nifty.
- I have been actively trading since 9 years in Stock Market now.
- One thing I always expect from Stock Market is Uncertainty and Surprises.
- Yesterday both Nifty & Bank Nifty were up more than 2.5% as on closing basis.
- After a big gap up many were expecting Markets to consolidate or be weaker.
- But Market continued the rally.
- As a trader it's important not to be stubborn and stick to your original plan.
- If plan isn't working change the same immediately.
- So in last 2 trading sessions both Nifty and Bank Nifty are up more than 4%.
- Now the most important question.
- Will we rally further , whether there will be a sell off or will we consolidate?
- I feel that 14600 is a good support on the lower side for this weekly expiry.
- We had a broad based rally these two days plus both FII's & DII's were net buyers yesterday.
- So the chances of market weakness is less.
- My view is bullish / consolidation.
- 15000 CE can act as a good resistance for this weekly expiry.
- If 15k breaks then it's definetely bullish signal.
- Nifty might Trade between 14740-14980 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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