- U.S Markets closed higher on Friday.
- Right now , Dow Futures are flat.
- Asian Markets are mixed.
- SGX Nifty is Trading near 16800 now.
- 16700 was a resistance for Nifty.
- Market closed Exactly near the resistance on Friday.
- Previously as well I've mentioned that Big players generally do not give a chance for Small players to enter in such situations.
- Generally when Breakout has to happen it happens with a gap up.
- Today it's Exactly the same.
- Jerome Powell the U.S Fed Chairman indicated that the Tapering process would begin by the Year end.
- Also he Cleverly indicated that Interest rates would not be hiked in near future.
- When I was a Child I used to love Chocolates.
- So my mother used to add a tiny pinch of Chocolate to Healthy food and make me eat.
- Jerome Powell has done exactly the same & Market as of now had a relief.
- Tomorrow we have the Most Important GDP data coming up.
- U.S Fix on Friday crashed more than 10% and crashed below 16.
- India VIX is the range of 12-13.
- Historical low for India VIX is 10.
- We are almost approaching the Historical low now and Premiums are not attractive.
- Option writers have to trade sensibly in such Scenario.
- VIX coming down from high is Positive whereas VIX going up from lower levels in Dangerous.
- As and when Resistance breaks it becomes a support.
- Today if we sustain over 16700 then 16700 can be a good support for this Expiry.
- Nifty might Trade between 16700 to 16880 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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