- US markets closed a bit lower Yesterday.
- Asian Markets are Positive.
- Right now US Futures are higher by more than a percent.
- SGX Nifty is above 15k now.
- Just before a week we were below 14200.
- Now we are at 15000.
- Bajaj twins were the star of the show yesterday.
- At one point of time these both were up more than 7% each.
- Massive short covering took place in these 2 counters yesterday.
- This is a dream rally of about 800 Points.
- To be true I too didn't expect that Markets would rally so quick so fast.
- This rally is majorly triggered by short covering.
- Due to Covid Cases increasing , beds and oxygen problem many people went short on the Market.
- I was also one of my them and I sold Call options.
- But as Market didn't respect my opinion I exited and started selling puts.
- Many traders are stubborn and don't book losses even when they know they are wrong.
- These traders are still short on Market and they will be taken to cleaners by looking at the way our Markets are rallying.
- These is more short covering left and there are many people who are shorting markets even now.
- Well I agree that the Micro Environment isn't good and Economy is in poor shape but markets work differently.
- As long as there are problems and issues Bull Market continues.
- Market discounts the future projections now.
- So rather than looking at economy etc better to focus on what the Market is trying to say.
- Only in that way one would be profitable here.
- Those who are buying now Covid will soon be a history and we will back to normal after the 2nd wave.
- Plus earnings season has started with highly positive note and all the companies are coming out with fantastic results inspite of pandemic.
- Apple has reported a growth of more than 50% this is extraordinary considering pandemic.
- Nifty might Trade between 14880 to 15080 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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