- U.S Markets closed at fresh record highs Yesterday.
- Asian Markets are mostly Positive.
- SGX Nifty is Trading near 16330 as on 7.30 AM.
- Dow Futures are slightly Negative.
- Yesterday the major event was Idea Bankruptcy.
- Idea has approached to Govt of India for handing over the company.
- Idea has liabilities more than 1.8 lakh crores.
- It has to repay loans to many major banks.
- SBI loan book includes 11000 crore given to idea and IDFC first Bank's 3% loan book is of Idea.
- Due to this turbulence markets were lower In the first half yesterday.
- In 2nd half FII's have started to buy and Msrkets have made a top.
- Now the Situation has been changed slightly.
- Previously , DII's used to buy and FII's used to sell.
- Now it's the other way round.
- When FII's start to buy they won't stop and buy on a continuous basis.
- RBI policy was a Non event yesterday as expected.
- 16000 is going to be a strong support this Expiry on Nifty.
- Now this is a buy on dip Market.
- Wait for Dips to enter into this Market and you will be rewarded.
- Nifty might Trade between 16220 to 16420 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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