- U.S Markets closed higher yesterday.
- Retail Sales data of U.S have come better than Expected.
- Asian markets are mixed.
- But SGX Nifty is weak.
- SGX Nifty is down 70 Points.
- Though India VIX is collapsing daily but the Markets remain to be highly volatile.
- Yesterday after 2 pm there was a huge selling.
- Last 1 hour Nifty broke 18000.
- High amount of Call Options have been sold at 18100 and above strike prices.
- Nifty is likely to test the Friday's low of 17900 today.
- This should act as the first support for our markets.
- If we are unable to hold onto this level , then we can expect further selling downside.
- 17800 should be the next support and if that is gone then 17600.
- November has been a very difficult month for traders.
- Due to such huge Volatility and unexpected moves all the traders are struggling to manage.
- Option writers are also facing issues in handling positions.
- Usually the Wednesdays are highly volatile and the Volatility is expected to go higher today.
- 18000 , 18100 and 18200 are big resistance levels for our Market.
- Nifty might Trade between 17800 to 18000 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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