- 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 higher.
- SGX Nifty is at 17250.
- Indicating a gap up of 150 points.
- The range for nifty is 16850 to 17350.
- From 17350 we fell all the way lower to 17100.
- This range would continue until the budget.
- Upside breakout after the budget has higher probability.
- Last year as well Market crashed before budget.
- There was no big positive from the budget but Market shot up after the budget.
- I feel all the negatives have been factored in.
- A stable budget could provide huge short covering.
- 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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