- U.S Markets closed lower Yesterday.
- Nasdaq crashed 500+ points yesterday.
- Dow Jones and S&P were also weak.
- In the Afternoon Dow Futures were positive on the back of good jobs data Expectation.
- As Markets opened Fed minutes were presented.
- In minutes there were talks about Increase in interest rates and reducing bond purchase.
- There was also a discussion on Reducing liquidity in the economy.
- This will be done in a staggered manner.
- This posted a dent on the Bullish sentiment and caused markets to fall in panic.
- U.S VIX was up 16% YESTERDAY.
- Due to all this SGX Nifty is indicating an open near 17800.
- I feel this is a good gap down to enter into.
- 17750-17720 should act as good support levels for the day.
- Once Global Markets start to stabilize we will resume uptrend.
- Yesterday both FII's and DII's were net buyers.
- Today is weekly expiry and this gap down might create panic in first half.
- Post that we can stabilize and can expect a recovery.
- Bank Nifty looks strong and has actually breached 20 DMA yesterday.
- IT stocks were under pressure and expect it to continue today as well
- Nifty might Trade between 17720 to 17960 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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