- U.S Markets closed higher Yesterday.
- Asian Markets are also higher.
- SGX Nifty is trading above 16200.
- Dow futures are also higher.
- Yesterday we finally broke out above 16k.
- 16k had huge call writing.
- Both in weekly and monthly expiry.
- When we broke out above 16k. All these writers had to run for cover.
- And this propelled Nifty higher.
- It was a huge short covering rally as soon as we crossed 16k.
- My prediction of Nifty not crossing 16k was wrong but I still made money.
- So there's no reason for me to be unhappy.
- Today the main Event is SBI results.
- SBI has a history of Declaring fantastic results.
- In the past as and when SBI declared results
- Bank Nifty rallied at least 400 points
- Today would be very intresting for Bull's.
- I know many People who are still short on this Market.
- Due to arrogance that Market should fall.
- These will have bleeding red on their trades.
- There's still upside left from here.
- SBI results will decide due course of action.
- Nifty might Trade between 16120 -16340 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
Comments