- U.S Markets closed flat yesterday.
- Right now Asian Markets are lower.
- SGX Nifty is flat at 18260.
- Yesterday it was a surprise rally in our Markets .
- From past 1 week all the gap ups and rallies have been sold into.
- Yesterday the Markets reversed and witnessed some short covering towards the end.
- Nifty closed at the highest point of the day.
- India VIX fell 6%.
- It was a dream day for option writers.
- Today will be an Equally volatile and difficult day for option writers.
- Wednesdays are generally highly volatile and Market turns violently on both the sides.
- Yesterday because of some good corporate results Nifty outperformed Bank Nifty.
- After Market hours Axis Bank has come out with results and it were better than expectations.
- Banking stocks have run up too quick in last week so have to see the reaction of the stock.
- 18000 seems to be a strong support now for our Markets.
- For November Month as well , highest open interest added at 18000 PE.
- Expect Nifty to expire between 18100 to 18350 now.
- I had mentioned Nifty had bottomed out at 18050.
- On Intraday basis it fell below 18050 for a brief point of time but never closed below the level.
- Nifty might Trade between 18100 to 18350 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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