- US Futures are slightly Positive.
- Asian markets are Negative.
- SGX Nifty is down more than 200 points.
- By 7.45 it was down 80 Points but now SGX is down more than 200 points.
- BJP's defeat in Bengal , Corona Virus cases rising heavily and FII's selling are the reasons for such a big gap down in SGX.
- Last week , Nifty rallied from 14150 to 15050 in 4 days.
- Next 2 days we are now near 14500.
- This is some kind of insane Volatility.
- The spikes are okay but the Volatility is too high.
- Friday, FIIs have sold for more than ₹3500 crores.
- Many States have been resorting to fresh lockdowns.
- So the picture doesn't seem good.
- Only Positive news is GST Collections.
- In spite of issues faced in Economy , Lockdown and Corona Virus GST collections touched another record high of 1.4L crores.
- Reliance has announced its results over the weekend and it's in line with the Expectations.
- Today Kotak Bank is likely to come up with its results.
- Auto Sales numbers were not upto the mark and were weak due to the lockdowns at various status.
- Though Maharashtra is showing improvement at Corona front many other states are taking the heat.
- Analysing / Predicting the trend is very difficult in this Environment but I feel Nifty should witness some recovery during Intraday.
- DII's might also support the Markets at lower levels.
- 14200 PE has the highest open interest and 14800 CE has the highest open interest on the higher side.
- We might expect a support at lower levels.
- Nifty might Trade between 14380 to 14620 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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