- U.S Markets closed higher Yesterday.
- Nasdaq is just 1% away from record highs.
- Technology stocks are outperforming both in U.S and India.
- Right now Asian markets and Dow futures are flat.
- SGX Nifty is Trading at 18450 almost flat.
- Yesterday was a highly volatile trading day.
- Nifty witnessed a huge gap up near 18600 and this got sold into within minutes.
- Market recovered swiftly during the day and closed near 18400.
- Yesterday there was heavy profit booking in momentum stocks.
- All the stocks that have rallied too quick too fast started to fall.
- Nifty heavyweights were mostly higher yesterday it was just broader Market collapse.
- HDFC Bank ADR was up 2.5% yesterday in U.S Market.
- Can expect it to outperform today as well.
- Wednesdays are mostly volatile trading days but I feel today could be a silent day as we have witnessed volatility yesterday.
- Expect Banking stocks to continue outperforming.
- HUL results didn't help the Markets either.
- As soon as the resukts were announced all the FMCG Stocks witnessed heavy profit booking.
- Expect Markets to consolidate before going higher.
- 18300 PE & 18600 CE has the highest open interest.
- Option writers are betting on this range for expiry which I feel should work.
- Nifty might Trade between 18300 to 18600 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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