- U.S Markets closed lower yesterday.
- Right now Asian Markets are mixed.
- SGX Nifty is flat at 18220.
- Yesterday it was a boring Market until 2 pm.
- Last 1 hour , Nifty fell 100 Points and Bank Nifty by 200 Points.
- This is due to huge FII selling.
- FII's have been booking profits heavily and have sold more than 12k crores in last 5 trading sessions.
- Due to such heavy selling market is trading violently between 18000 to 18500.
- In spite of such big selling by FII's Nifty is down by only from 300 Points from all time high.
- This is because the DII's and the retail keep supporting Market as lower levels.
- Yesterday all the Banking stocks witnessed heavy profit booking.
- Axis Bank came out very good results but it fell 6% thereafter.
- Predicting stock specific move after results is too tricky as it all depends on F&O positions lined up.
- Expecting November to be a very boring month for trend followers whereas highly profitable for option sellers.
- Expecting VIX to crash below 15 sometime in November and Markets to consolidate.
- Consolidation to happen with slightly positive bias.
- Today expiry could be volatile after 1 pm and usually the monthly expiry are very volatile.
- IndusInd Bank has also come out very good results yesterday.
- 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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