- U.S Markets closed flat on Friday.
- Right now , Asian Markets are higher.
- SGX Nifty is at 17900.
- TCS has declared results over the weekend and the results seem sub-par.
- We cannot judge how a stock reacts just after results as it depends on the long -short position existing during that instance.
- IT Stocks have run up quite a lot factoring in good results and now any sort of disappointment could be damaging.
- Over the weekend Reliance announced Takeover of Solar company.
- It was done to tighten its grip in the power sector.
- 18000 CE has the highest open interest in weekly as well as monthly expiry.
- Despite Nifty going to 17940 on Friday , open interest kept adding.
- These sellers are quite confident on Nifty not taking out 18k soon.
- If by any means 18k gets taken out , Market will rally 100-200 Points in no time.
- All these writers could be trapped propelling the Market higher.
- RBI Policy as expected was status quo on Friday and INDIA VIX fell considerably.
- Option premiums on both the sides are very low for October series.
- We have 12 trading sessions in October now as we are having two public holidays.
- Decay will be faster citing the same.
- Any dip close to 17850-17800 is a buying opportunity.
- Look to build positions on dips towards the long side.
- Nifty might Trade between 17800 to 18000 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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