- U.S Markets closed 200 points higher yesterday.
- Asian markets are flat to negative now.
- SGX Nifty is up 20 points.
- Yesterday our Markets were highly volatile.
- As soon as Market opened Nifty crashed 250 points at the open.
- This has been a regular feature as soon as our Market opens.
- This huge selling happens because of Machines.
- Machines are much faster than humans and we cannot stand in front of them.
- Nifty yesterday tried to break 17200 but failed.
- What's more worrying is Bank Nifty.
- Bank Nifty fell 20% from highs and is in a Bear Market now.
- Yesterday advance decline ratio was also very weak.
- 420 advances to 1570 declines shows a very weak advance decline ratio.
- Clearly momentum is lacking on the upside.
- This is a sell on rise Market until Nifty crosses and closes above 17250 in the near term.
- 17000 is the highest open interest in put options.
- Both in monthly and weekly expiry.
- So this could act as a support.
- I'm expecting a rangebound Market now.
- 17000 to 17250 is the range for now.
- And expecting this to continue for some time.
- FII's have been selling on a daily basis of 3000+ crores.
- Nifty might Trade between 17000 to 17250 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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