- U.S Markets closed lower on Friday.
- U.S Tech Index Nasdaq closed significantly lower.
- This is due to the Jobs number reported were quite low compared to expectations.
- On Friday our Indian Markets also witnessed profit booking from highs.
- Nifty fell 300 points from 17500.
- Markets from November have been quite Volatile.
- Nifty is making almost 200-300 points on a daily basis.
- Reversals are happening with extreme speed and Volatility.
- This is a ranging Market but with a huge Volatility.
- This is because both the FII's and DII's are in a tug of war.
- DII's buy to support the Market but FII's keep selling.
- Friday all the commodities and all the Cryptos fell.
- Right now Asian markets and Dow futures are higher.
- SGX Nifty is up 50 points.
- We might open flat today.
- RBI governer conference on Wednesday regarding interest rates is a very important event to focus.
- I don't think Market is fearing Omicron.
- Many reports have suggested Omicron to be less deadly than Delta variant and also symptoms are mild.
- Bigger problem is FII selling now.
- Nifty might Trade between 17120 to 17420 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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