- US markets closed at all time high.
- U.S Markets have broken out from a ranging scenario.
- But Asian markets are Underperforming U.S Markets.
- Asian Markets are flat/Negative.
- Yesterday we witnessed an intense selling in the first hour.
- This selling magnified during the day.
- I would term it as a Panic selling.
- Due to highest number of cases , gradual lockdown rules in some states.
- Covid 2nd wave fears there was a big selling Yesterday.
- FII's were net sellers Yesterday.
- DII's also didn't come to support the Markets at lower levels.
- Bank Nifty was the Culprit.
- All Financial stocks were targeted and surprisingly even after such a big fall IT index was Positive.
- So the target was Financial stocks.
- I feel Yesterday was a knee-jerk reaction and a bit of Panic selling.
- I had warned Yesterday that Volatility may tap up.
- I have been observing from last 3 Months whenever SGX Nifty closes around 20 , the next week it jumps higher.
- Those who sold Put Options Yesterday will be having a tough time.
- Yesterday's low of 14500 will act as a good support for the rest of this Expiry.
- 15000 CE has the highest open interest.
- If 14500 breaks then we will witness 14250.
- As of now I'm selling Call Options on every bounce using 50% of my Capital.
- If 14500 breaks I'll be selling CE's aggressively.
- Nifty might Trade between 14460 to 14740 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
Comments