- U.S Markets closed higher on Friday.
- Right now Dow Futures are lower.
- Asian Markets are all in deep red.
- This is why SGX Nifty is also negative about 50 points and trading near 15800.
- Hang Seng and Chinese markets are down more than 2% each.
- This is because Chinese Govt is behind technology gaints.
- Ali Baba 6 Months ago was being succumbed to this pressure.
- Now other IT companies are also facing he heat.
- These local issues should not much impact on our Indian Markets for longer term.
- ICICI Bank and Reliance industries declared results over the weekend.
- Both these companies are important components and have heavy weightage in Nifty and Bank Nifty.
- ICICI Banks profit growth was good and also there wasn't any major lag in Asset Book.
- Reliance Industries results were also as per Expectations.
- GRM Margins increased due to crude oil prices fall was a cherry on the Cake.
- I expect Markets to be rangebound for this week too.
- 15500 to 16000 is the range.
- Unless some new news comes out of the bloom we should be trading in this range.
- Naked Options selling is not advisable considering such low VIX as in the last week Vega effect is at its highest.
- I bought 15900 CE at 98 and sold 16000 CE double the quantity at 56.
- Strategies like above should be preferred in such scenarios.
- Nifty might Trade between 15720 to 15880 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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