- U.S Markets closed mixed on Friday.
- Asian Markets and Dow Futures are flat now.
- SGX Nifty is Trading near 18150.
- Markets have been super volatile from last 4 trading sessions.
- Nifty has corrected 550 Points from 18600.
- Bank Nifty keeps hitting fresh highs.
- There was a time when Nifty was hitting fresh highs on regular basis.
- Bank Nifty was flat.
- Now the tide has changed and money is flowing to Banking stocks.
- ICICI Bank over the weekend has declared box office results.
- Reliance results were good as well.
- The problem for the Market is FII selling.
- FII's have been selling very aggressively from last 4 trading sessions.
- Selling more than 2000 crores on a daily basis.
- This is causing a negative sentiment in our Markets specially in Nifty for a short term.
- The issue is many traders have been stuck at higher levels as they have been used to such corrections
- Also this is one of the longest corrections in last one month.
- Expect Markets to remain volatile and also there are many results lined up this week.
- There is huge call writing at every level of 18200 , 18300 , 18400 etc.
- Market might be Volatile between 18050 to 18200.
- Nifty might Trade between 18000 to 18300 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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