- U.S Markets closed higher on Friday.
- Asian Markets are mostly flat.
- SGX Nifty is trading around 16270.
- Right now , Dow Futures are flat.
- Markets after breaking out of 16k have witnessed a fantastic rally.
- Now it's in Consolidation phase.
- I expect a limited upside for this week Expiry.
- Many negative news approaching.
- Markets seem to be taking it easily as of now.
- Reaction hasn't been witnessed yet.
- 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.
- 2nd half we tried to recover but failed to close higher
- Nifty might Trade between 16160 to 16300 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