- U.S Markets have recovered most of its losses yesterday.
- Right now U.S futures are trading higher.
- SGX Nifty indicating a gap up 60-70 points.
- Asian Markets are also higher.
- Yesterday's price action of U.S Market indicates that the Temporary jitter due to Fed policy has subsided.
- U.S VIX was down 5% yesterday.
- I feel Fed rate hike is behind us.
- Also Fed is going to increase quarter percent and in next year which I do not think is a much issue.
- There is just some panic and reaction is knee-jerk.
- Bank Nifty took support as it's lower range of 34500 yesterday.
- This is likely to act as a good support in coming days.
- We are still in a Bull Market and every dip is a buying opportunity.
- Always Remember the larger the dip the bigger the rally.
- As dips always intice short positions and many short positions gets build up.
- These short sellers will take Market higher and lead to short covering.
- Yesterday due to Weekly expiry there was high Volatility.
- Important point was Market didn't break important support levels.
- This is the positive we can take out.
- Yesterday all the Adani Group Stocks fell Uniformly.
- That's why I always say to be away from such stocks.
- A 3-4% move against you and you will be out.
- Technical Analysis , Charts etc don't work when there's news.
- Nifty might Trade between 15620 to 15860 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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