- U.S Markets closed higher on Thursday and Friday.
- Dow Rallied 1000 Points in these 2 days.
- Right now Dow Futures are flat and Asian Markets are lower.
- China GDP data was announced today Morning which was below Expectations.
- Hence , Asian Markets are under pressure.
- SGX Nifty is Trading near 18420 now.
- It has been a dream run for our Markets in October.
- October 1st low was 17450 and now it's nearly a 1000 Point rally considering SGX.
- This rally is without the support of IT index.
- Bank Nifty has also witnessed a phenomenal rally of close to 2500 Points for October.
- The talking Point over the weekend was HDFC Bank results.
- Media has been reporting it's above Expectations but the issue here is Stock has already rallied before results.
- Any disappointment found in results would lead to a big fall.
- TCS hit fresh ATH before results of 4000 , results were not that bad but the Stock fell.
- Move after the results is quite difficult to predict because it's totally onto the Expectations.
- This week also has lots of results lined up.
- Reliance and ICICI Bank are heavyweights of Nifty and Bank Nifty.
- These will be coming with results over the weekend.
- Will be interesting to see HDFC Bank's movement post results.
- 18500 could act as a stiff resistance today for Nifty.
- It's time to be cautious as I feel Market has run up too quick too fast.
- 18250-18300 would be good zones to enter into for short term traders.
- Nifty might Trade between 18300 to 18500 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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