- U.S Markets closed a percent higher on Friday.
- SGX Nifty crossed 14850 on Friday.
- Right now U.S Futures and Asian Market's are marginally weaker.
- SGX Nifty is trading around 14770 now.
- Markets have been in a rangebound zone and have been Consolidating from quite some time now.
- Last week the U.S inflation data triggered a fear in our Markets.
- Due to the same Volatility has increased.
- Friday was a fairly Volatile day.
- Nifty traded within 100 Point range but there were big swings throughout the day.
- Bank Nifty fell a percent on Friday.
- Bank Nifty looks weaker than the Nifty.
- We have SBI results coming this week and if this is positive then it may trigger Bank Nifty higher.
- As of now 14800 and above seems to be a strong resistance as calls have been written aggressively from 14800 and above.
- More call writing is going on than puts.
- Remember, option writers can also be wrong and small rally might propell the markets higher.
- 14350 to 15000 is the range I expect the Market to trade these coming 4 days.
- So as when you get sharp dips or sharp rallies one can sell 14350 PE or 15000 CE etc.
- I've sold 14700 Straddle at 450₹ on Friday.
- First 2 weeks on May markets went nowhere.
- Usually when this happens Markets tend to make a big move while getting near to the last week of expiry.
- Both DII's & FII's were net sellers last week.
- Nifty might Trade between 14580 to 14820 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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