- U.S Markets closed higher Yesterday.
- Yesterday when our Markets opened Dow Futures were lower.
- During the day it started recovering a bit.
- Right now Dow Futures are flat.
- SGX Nifty is near 17520.
- Yesterday was a fantastic rally for both Nifty and Bank Nifty.
- Nifty was struggling to cross 17450 for whole of the last week.
- Yesterday it has broken out of Consolidation.
- Now the short term support has been shifted to 17400.
- Yesterday I expected a High Volatile day within the range of 17250 to 17450.
- As Market opened the price action was quite Bullish and we broke all time high.
- That's when I started to sell put options aggressively.
- Also Nifty is up 10000 Points from last Year March low.
- From 7500 to 17500 is a fantastic rally.
- Do not short this Market , it will burn your hands.
- Wait for Dips and good buying zones to enter this Market.
- Rather than focusing on 50-100 Point short trade , you will be missing out of 300-500 points upmove.
- Better to follow the trend than being too smart and betting contra.
- I was indicating that 17400 CE has highest open interest.
- If Market breaks this level these people will run for cover and would take markets higher.
- Yesterday both the FII's and DII's were net buyers for very small amounts.
- Some Relief was offered for Telecom sector Yesterday.
- Banks that have lent to this space were Bullish Yesterday.
- I don't see Market correcting much from here.
- We might either stay flat or will go higher.
- Stoploss for your short term long trades should be 17400 on NiFty.
- Bank Nifty once goes above 37000 then we will get a Breakout rally.
- Nifty might Trade between 17460 to 17620 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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