- U.S Markets closed 480 points higher yesterday.
- Dow futures and Asian markets are mixed now.
- SGX Nifty is trading at 17340.
- Yesterday we had a big short covering rally in our Markets.
- Some news paper reports suggest that FII's have received legal notices related to tax issues.
- Also they are not happy with T+1 settlement rule to be implemented by SEBI.
- Hence FII's are selling in such huge quantities.
- DII's are ready to support the Market.
- This is creating some high Volatility and making trading almost impossible.
- Yesterday we had 300 point rally in spite of which FII's have sold 2500+ crores.
- At any point of time again this selling may resume.
- In such Volatility it's better to stay out or to trade with 1/5th of your normal volume.
- Bank Nifty has shot up 1000 points yesterday and is supporting Nifty as well.
- In 2019 , similar situation happened and FII's started to sell aggressively.
- Nifty fell from 12000 to 10700 is no time.
- It was a mini Bear Market and then Nirmala Sitharaman reduced the Corporate Tax percentage and Market shot up.
- Today we also have RBI Policy lined up and this will add to Volatility.
- It's better to stay out for some time and wait till this issue subsides.
- Nifty might Trade between 17100 to 17400 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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