- US markets closed higher Yesterday.
- Asian markets are mostly higher.
- SGX Nifty made a low of 14050 Yesterday.
- Now it's trading around 14180.
- Though SGX might look in Green it's still 100 Points below Tuesdays closing level.
- 14200 has acted as a good support area many times.
- Tuesday as well Markets fell drastically but couldn't break 14200.
- Today we might get an opening below that level.
- If we get an opening below 14200 and we start to sustain below it for some part of a time then next level would be 14000 as a support.
- 14200 is the 2 Months low on Nifty , breaking this level would mean extreme bearish ness in the short term.
- More and more Negative news has been coming in from the Corona front.
- Today cases are 3.15L , Net Covid positive patients everyday for India is 1.25L ( After Recoveries).
- The situation is going to worsen in coming days.
- Yes we have a Vaccine but our Country is so huge that it would take loads of time to get Vaccinated for all.
- Until that happens , majority damage would've already been done.
- PM stated that at any cost lockdown should be avoided and India shouldn't go into Lockdown.
- Seeing the facts based on Today's situation I feel we may have another complete lockdown as we had an year before.
- Such Scary is the ground reality.
- The trend is bearish now but you need to find correct levels for entry.
- Short the Market near resistances.
- It's going to highly Volatile in the Upcoming days.
- 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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