- U.S Markets at one point of time were down 850 Points.
- But has recovered 300 Points in last 30 minutes.
- Right now , Dow Futures are higher.
- SGX Nifty is Trading near 17450.
- Hong Kong Markets are at 52 week low.
- Dow is down 2000 Points from all time high.
- Yesterday it was a highly Volatile session.
- Nifty opened lower , recovered during the day and then came severe selling.
- Nifty closed towards the lowest point of the day.
- Last 30 minutes it was a panic selling in the Markets.
- What was more difficult was rising VIX.
- Yesterday everything was down except the VIX.
- VIX was firmly in Green throughout the day.
- This rising VIX created lots of problems for option sellers and Yesterday was a difficult day to handle.
- 17500 strike price has the highest open interest.
- Lots of straddles have been added here.
- 17500 Combined premium is about 230₹.
- Option writers expecting 17270 to 17730 range for the Nifty for this expiry.
- 17250 is a strong support for our Markets now and 17500 should act as a resistance.
- Expecting VIX to come down slightly today.
- Nifty might Trade between 17250 to 17500 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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