- U.S Markets closed higher Yesterday.
- Asian Markets are higher.
- SGX Nifty right now is at 17780.
- There's only one word to describe the current Market and that is "Volatile".
- Market has been Highly volatile for this October.
- Nifty went up from 17450 to 17850.
- Then fell to 17600 Yesterday and now indicating a big big gap up.
- Probably until Results declaration and RBI Policy which is due tomorrow, the Volatility is likely to continue.
- Such Volatility is not good for short term traders and Option sellers specifically.
- U.S Markets in Pre - Market were down 300 Points but have now recovered and are in Green.
- U.S VIX fell by 15% Yesterday from day high.
- Yesterday India VIX rose 5% , expecting it to come back to Normal today.
- Bank Nifty actually closed stronger than Nifty that's due to HDFC Bank.
- Bank Nifty was down 0.5% whereas Nifty closed 1% lower Yesterday.
- Nifty future was trading at discount Yesterday this shows that the Market has been oversold.
- 17700 to 17900 should be the range for today.
- Dips close to 17700 should be a buying opportunity for the day.
- Nifty might Trade between 17700 to 17900 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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