- U.S Markets closed lower Yesterday.
- Dow futures and Asian markets are mixed now.
- SGX Nifty is trading at 17500.
- Today U.S inflation data is about to come in U.S and there's why some pressure exists.
- Yesterday after many days Market were a little stable.
- Before Yesterday Nifty and Bank Nifty have been making 2% moves on daily basis.
- Yesterday things seem to have settled a bit.
- FII's have sold more than what DII's have bought yesterday.
- But due to Expiry related issues etc Market might have been stable.
- Last 2 consecutive Friday's markets closed at the lowest point of the day.
- This week as well we are sitting on huge gains on both indices.
- So people would like to take off some money to go into the weekend.
- Also there is uncertainty in Global Markets so that is general.
- Evergrande , one of the World's largest real estate developer defaulted in their loan and is on the verge of Bankrupcy.
- Need to closely track the Developments here.
- 17600 is a hurdle for now and one can be bullish only if this level gets taken out decisively.
- Until then it's better to be neutral.
- India VIX is now below 17 and that's a sign of stability.
- However FII selling in back in strength.
- Nifty might Trade between 17300 to 17620 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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