- U.S Markets closed Slightly Negative Yesterday.
- Nasdaq closed slightly positive.
- Right now Asian Markets are mostly lower.
- SGX Nifty is down by 10-20 Points.
- Yesterday Markets opened higher and continued the Momentum.
- What was a bit surprising about Yesterday's rally was U.S Futures were down Intraday and European Markets were also lower during Market hours.
- Still our Markets closed firmly in Green.
- Reliance was the outperformed even Yesterday.
- Bajaj Finance and Bajaj Finserv both witnessed profit booking due to Cautious view by Managements.
- Bank Nifty facing some reistance near 35500.
- Bank Nifty will gather steam if we get closing above 35500.
- On the lower level 35200-35100 is a good support.
- Bank Nifty from quite some time trading within this range.
- When Everybody expects an index to go up it generally consolidates.
- When these people lose patience and dispose their positions it rallies.
- Most of the Technical people expecting Bank Nifty to go higher so it's Consolidating.
- Patience to stick to your positions and conviction rewards.
- In spite of Global Markets witnessing profit booking Indian Markets are outperforming.
- 15700 PE has added large open interest yesterday.
- This is in the money option still added huge open interest.
- Expecting this level to be a good support for Nifty for coming days.
- Nifty might Trade between 15680-15840 today.
- Expecting a Rangebound day on Nifty and Bank Nifty with 100-150 Points plus or minus.
- 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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