- U.S Markets closed lower yesterday.
- After closing in green for 8 consecutive trading sessions they have witnessed some profit booking.
- It was one of the highest winning streaks for market.
- Today the inflation data is going to be announced in U.S.
- Ahead of the same markets are a bit shaky.
- Asian markets are lower.
- SGX Nifty is trading at 17960 today.
- We are likely to have a decent gap down opening today and I feel that 17920-17900 is a good buying opportunity.
- 17900 PE added huge open interest when we crossed 18k.
- This support level shouldnt break easily today.
- We are in a consolidation mode currently and there is no clear trend.
- Looks like Nifty is again going to fall back in 17800 to 18000 range before a possible big move.
- IndusInd Bank has stabilized yesterday and that has settled Bank Nifty.
- Bank Nifty is a good risk reward zone buy near 38900 -39000 which is Mondays low.
- Nifty near 17900 is a good opportunity to enter.
- We have supports at 17800-17850 and 17900 all the way for Nifty.
- These should come in handy for the day.
- Usually the Wednesday trades are highly volatile and expecting the same Volatility today as well.
- This Market is very difficult to trade for option buyers and trend traders.
- It's not like before where you get big moves almost 2nd day.
- The good old updays are gone now.
- Now markets would be boring and consolidating for the coming year as markets cannot keep going up in a straight line.
- Nifty might Trade between 17800 to 18100 today.
- Bank Nifty might Trade between 38800 to 39500 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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