- U.S Markets closed lower yesterday.
- Asian markets and Dow futures are lower right now.
- SGX Nifty is indicating 20-30 point lower opening.
- There is only one word to describe these markets.
- That is Volatile.
- Markets are on a serious Volatility in November series.
- I've seen Corona Virus , Nirmala Candle , Taper Tantrum etc and handled well.
- But this November Volatility is too much.
- 17800 is the next support for Nifty.
- Bank Nifty is too weak.
- Friday's low has been breached for both Nifty and Bank Nifty.
- We have a long weekend coming so traders wouldn't like to carry their positions on weekend.
- Expecting a high volatile expiry today.
- Bank Nifty Feb high was 37700.
- After this Bank Nifty fell a bit went to 41800.
- All these gains have been wiped out in just few weeks.
- 18000 CE has added huge open interest in both weekly & monthly options.
- These levels are not likely to breach today.
- Short term view is bearish.
- I'm selling only call options now with hedge.
- Nifty might Trade between 17750 to 17950 today.
- Any bounce towards 17950 to 18000 should be sold into.
- 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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