- U.S Markets closed at record highs Yesterday.
- More than 80% of the U.S Companies have declared better than expected results.
- Asian Markets are mixed.
- SGX Nifty is up 30,40 points.
- Yesterday we opened above 18200 but within minutes markets crashed.
- 18000 was broken for a brief amount of time and Market touched 17950.
- Then we had witnessed a sharp recovery from those levels.
- Reliance in spite of declaring good results seemed dull yesterday.
- ICICI Bank was the star of the show.
- Up more than 10% yesterday and single handedly took Bank Nifty higher.
- Bank Nifty at a brief moment was up 1300 Points.
- Profit booking was witnessed after that and it closed 700-800 points higher.
- Yesterday HDFC Bank was down more a percent.
- This is a classical Market situation where one business captures Market share from other.
- HDFC Bank was the most loved FII stock but since Aditya Puri resigned it has lost its Mojo.
- Money has now been shifting to ICICI and Axis.
- Bank Nifty still has enough legs to cross 42k by this expiry.
- Nifty might remain sideways between 18000 to 18250.
- It might Trade within this range but with high Volatility.
- Midcap stocks have been falling apart from past few trading sessions and that's a very good sign.
- There was a lot of froth in the midcap space and that's been corrected now.
- I still believe decent Midcaps would do very well but every stock won't run up as we have been witnessing.
- One needs to be very careful while picking stocks.
- Nifty might Trade between 18000 to 18250 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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