- US markets were down for about a percent Yesterday.
- Asian markets are mixed.
- SGX Nifty is higher by 60 points.
- Global markets have went into profit booking Yesterday but right now U.S Futures are higher.
- Yesterday we witnessed a severe fall but we didn't broke the support area.
- Yesterday the low for Nifty was near 14200.
- Yesterday I mentioned that this is an Opportunity to sell puts and the premiums were really high Yesterday.
- By selling 13800 PE which is 400 Points away from Spot one could 4% return in just 3 working days.
- India VIX was up 10% Yesterday.
- Expecting it to go lower today.
- At one Point of time Bank Nifty was down 1500 Points but recovered almost 900 points from the lows.
- Corona Virus Situation is getting worse day by day.
- By sense is it will worsen it coming days.
- The top has not been made yet for Covid Cases.
- FII's have turned sellers Yesterday whereas DII's supported the Markets at lower levels.
- I would be bearish in short term only if we break 14200 on Nifty.
- Above 14200 theres no reason to be bearish
- It's a buy on dip opportunity on every correction.
- Nifty might Trade between 14240 to 14560 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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