- U.S Markets closed higher Yesterday.
- Dow futures are flat now.
- Asian Markets are mixed.
- SGX Nifty is trading around 16300.
- Yesterday we touched 16350 on Nifty but we were unable to sustain this gap up.
- Towards the end of the day Trading day severe profit booking was witnessed.
- Ultimately markets closed almost flat.
- This happens when we have a huge breakout.
- Nifty broke out of 16k with full steam and after that we are consolidating.
- Today is Wednesday and remember Wednesdays are highly Volatile.
- As we have an Expiry tomorrow so expiry related issues might kick in.
- In spite of severe profit booking yesterday 16000 PE added huge open interest.
- This shows the confidence of Bulls.
- We are in a Consolidation phase and this might continue a bit longer.
- Zomato posted results yesterday are they do not look good.
- Loss reported by the company has increased by 360% YOY.
- I have repeatedly Cautioning that this stock is trading at high Valuations and one needs to be careful.
- This will be a very Stock Specific market from now.
- Investment in wrong Stocks would cause severe damage.
- Nifty might Trade between 16160 to 16360 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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