- U.S Markets closed flat Yesterday.
- Asian Markets are also Flat.
- SGX Nifty at one Point was higher by 250 Points.
- Right now it's higher by 100 Points.
- TCS in spite of positing good results was down 5%.
- This is because these stocks have already rallied a lot.
- So now Profit booking takes place in these counters.
- Infosys came out with results Yesterday.
- But Infosys ADR is down by 6% in U.S Market.
- Meanwhile India continue to record highest Corona Virus cases.
- Maharashtra has anniunced a lockdown.
- SGX sometimes is a misleading Indicator as it tracks only the Global data.
- Local cues are being ignored in SGX Nifty and the real Position we get to know only after Market opening.
- If we open 100-150 points higher then I do not see risk reward favouring a buy.
- It is a good shorting Opportunity that can be done via this gap up.
- Expecting Markets to be Bearish / Neutral for this Expiry.
- Nifty might Trade between 14440 - 14680 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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