- U.S Markets closed lower Yesterday.
- Right now Dow Futures are higher.
- SGX Nifty is near 17420.
- Yesterday the Markets opened above 17400 and also sustained for first half.
- In the Second half it was Volatile and we witnessed slight profit booking.
- Nifty closed below 17400 Yesterday.
- Today also I feel that this Gap up on a close to close basis might not hold on.
- 17250 to 17450 is the range for Nifty.
- Yesterday SGX Nifty made a high of 17450 as U.S Inflation data was according to the Expectations of Market.
- As soon as U.S Markets opened , there was a heavy profit booking.
- Today also I expect Nifty to be Volatile between 17250 to 17450.
- The Plan for today is to sell 17000 and 17100 Put Options of Next week Expiry.
- Provided if Nifty comes to 17300-17250.
- I won't be selling Call Options as I expect a Breakout on the higher side in due course.
- Premiums are too low now as VIX closed lower Yesterday.
- Right now it's not favourable to sell Options.
- As VIX inches higher and there's a big swing in the Market that would be favourable to sell Options.
- Bank Nifty is totally sideways and is going nowhere.
- It goes up one day comes down another day trading at same levels towards the day.
- Nifty might Trade between 17250 to 17450 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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