- U.S Markets closed lower Yesterday.
- Dow futures are slightly lower now.
- Asian Markets are mixed.
- SGX Nifty is Trading near 15670.
- Yesterday we witnessed a huge profit booking during the day.
- Expiry related issues also contributed to the downfall.
- Expiry related issues means those trading in weekly options have to square up their positions the same day.
- Thus leading to further fall.
- A Positive which we had Yesterday was Nifty didn't break crutial level of 15700.
- 15700 was managed to hold yesterday.
- From last 4 weeks Nifty is trading within 15700 to 15900.
- This is a very narrow range.
- Yesterday we fell due to Global Markets jitter.
- Delta variant cases are growing much faster than expected.
- Some Asian Countries have announced higher restrictions due to the same.
- Today I expect Nifty to test 15700 if it manages to hold on then second half we may witness upmove.
- TCS has declared results yesterday and are good at first sight.
- India VIX shot up 11% yesterday.
- Volatility is likely to increase going ahead.
- Nifty might Trade between 15620 to 15840 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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