- U.S Markets were down 300 Points at one point of time but closed almost flat.
- Nasdaq is just 2% away from record highs.
- Right now Asian Markets are higher.
- SGX Nifty is Trading at 18560 now indicating another 70-80 point gap up.
- Well this is a run away Market that we are witnessing.
- Huge gap ups being sustained and while traders are waiting for dips to enter into , the dips are not coming.
- Yesterday was the day of IT Stocks , Metals and PSU Banks.
- HDFC bank declared good results but it witnessed profit booking.
- All the other Banking stocks shot up yesterday.
- SBI hit a lifetime high of ₹500 on Intraday basis.
- I still somehow feel a short correction is imminent but we cannot predict the time.
- Market might run up even more and then correct.
- One should manage the risk and go with the Market.
- The trend is surely up and there's no question of it.
- Rather than looking to sell , the focus should be to buy at important levels.
- HDFC Bank ADR was up 0.7% yesterday in U.S so Expecting it to stabilize today.
- 1700 CE of HDFC Bank has the highest open interest.
- Once this is taken out we can expect HDFC bank and Bank Nifty to fly.
- 18479-18500 is a good zone to enter for Intraday.
- Nifty might Trade between 18450 to 18650 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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