- U.S Markets closed lower Yesterday.
- U.S Markets are down for 3 consecutive days now.
- This may be due to the Inflation news coming today Evening.
- Before the Inflation news , institutions wish to book profit and stay safe.
- Right now Dow Futures are slightly positive.
- SGX Nifty is trading near 15700.
- Yesterday our Markets witnessed quite big swings and turns.
- Bank Nifty opened below 35k trapped bears and rallied 400 points.
- Nifty almost did the same by reversing from lows in first half.
- Second half witnessed quite large amounts of profit booking.
- Just at the stroke of 14800 Nifty corrected and fell almost 200 points Intraday.
- Bank Nifty fell almost 800 Points from day high.
- All the Put writers got trapped and had to run for cover thus Taking Market even lower.
- It was a two way move in indices Yesterday.
- In spite of such high Volatility yesterday the India VIX was firmly lower.
- This suggests that it might be one off day for Bull's.
- I expect it as a shake off to take out the Weak longs and Markets to be normal after U.S Inflation data.
- Most of the times , in Bull Markets Bears last only for a day.
- Such Corrections and Profit booking is good for the long term strength of Bull Market.
- Usually after such a Volatile day the next day might be calm and Rangebound.
- Weekly expirys are generally Rangebound.
- Nifty might Trade between 15600 to 15800 today.
- Bank Nifty might Trade between 34600 to 35200 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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