- US markets closed mildly lower Yesterday.
- Asian Markets are mostly negative.
- SGX Nifty is flat.
- Yesterday we had a highly Volatile day but on a close to close basis markets closed flat.
- Bank Nifty is very weak.
- Yesterday Bank Nifty closed in Negative whereas Nifty closed Positive.
- Banks are dragging Nifty.
- This week Bank Nifty is down by 4% whereas Nifty down by 2%.
- This clearly shows Bank Nifty is weak.
- One can even Inititate a pair Trade.
- One can Buy Nifty and sell Bank Nifty until tomorrow's expiry.
- FII's were net sellers Yesterday.
- Whereas DII's were net buyers.
- Today we have RBI monetory Policy.
- Nothing major is expected from the policy and the major expectation is status quo.
- This Policy won't have any sort of long term implications but In Intraday Bank Nifty is likely to be Volatile due to the same.
- On a close to close basis I don't think the policy is going to effect much.
- RBI Governers comment would be the key to watch out for.
- Overall I expect Nifty to expire between 14450 to 14850 tomorrow.
- Also Nifty is likely to trade between above 2 levels.
- Nifty might Trade between 14520 - 14780 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