- U.S Markets closed more than a percent lower on Friday.
- Right now U.S Futures are down.
- Dow Futures are down 200+ Points.
- SGX Nifty is down 150 Points and trading near 15600.
- Indian Markets always tend to follow the Global Markets.
- On Friday we were down more than 2% from days high on both Nifty and Bank Nifty but witnessed a large short covering towards day end.
- Also a point worth noting is U.S VIX was gone from 15 to 22 in no time.
- Expecting India VIX to also go higher in coming days.
- Next 4 days Market is going to be highly Volatile.
- Usually the Monthly Expiry is always Volatile.
- Option Writers should be very careful and not hold positions till Expiry.
- Need to keep small targets and exit by day end.
- Carrying positions in these Markets is very risky.
- Also taking trades and holding it till the view of Expiry can also turn to be quite risky.
- First support for Nifty spot comes near 15540.
- If this is broken then Nifty could test Friday's low of 15460-15470.
- If we get closing below 15540 then things could get more bearish.
- This is for the immediate short term a sell on rise Market now.
- Those who can handle this extreme Volatility should only trade for others it's better to stay away until this Expiry.
- Bank Nifty looks to be very bearish and that's dragging Nifty much more.
- Nifty might Trade between 15440 to 15740 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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