- U.S Markets closed mixed on Friday.
- Right now Dow Futures and Asian markets are lower.
- SGX nifty is down 60-70 points near 18200.
- Last Friday as well we were almost having a similar set up.
- Global Markets were down and we opened gap down near 18150.
- During the day , this gap down was bought into.
- 18100 -18300 is the range for Nifty.
- Near 18100 is a good buying opportunity.
- In the past , I have noticed many times that in such broad ranges breakout usually happens on the higher side.
- So we have 90% chances of breakout above 18300.
- Whnen will this happen that nobody knows.
- Until then , buying dips close to 18100 is a good option.
- HDFC Bank has come up with results over the Weekend.
- These results look good.
- They are not too good nor too bad.
- It's an okay kind of results
- HDFC Bank has been beaten up so much in last 1 Month.
- Even average results could charge up this Stock.
- 38000 is a big buying zone for bank Nifty.
- It has rallied and reversed almost 4 times from this level and 18100 for Nifty.
- Nifty has reversed and gone higher from these levels about 3 times.
- Any fresh big move will happen only if we break 18100 or 18300.
- Until then it's a ranging Market with Consolidation on the upper side.
- Nifty might Trade between 18100 to 18300 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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