- 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.
- Budget Volatility could offer dips and that would be good opportunity to accumulate.
- Volatility will be huge so Daredevils only can trade such markets
- If you cannot handle volatility/ MTM loss on screen it's better to stay out.
- Nifty might Trade between 17200 to 17800 today.
- stockmarketadvisory.in
1. U.S Markets closed lower on Friday. 2. Dow Jones was flat. 3. Nasdaq was the underperformer. 4. Gift Nifty is down 30-40 Points. 5. Asian markets are mostly lower as well. 6. Friday the Nifty opened with a gap down of 200 points. 7. Within the next 10 minutes , Nifty recovered 100 points. 8. Bulls expected recovery is on the cards but Nifty started to Crack. 9. Bank Nifty was holding up Nifty for most of the while. 10. It couldn't be able to provide much of a support and Bank nifty also began to correct. 11. The issue now is market has had vertical rallies. 12. One way quick rallies so now the downfall will also be vertical. 13. When markets go up quick , they come down quicker. 14. Infy dragged the mood and also HUL didn't post extraordinary results so it was also a laggard. 15. Banks tried hard to hold the markets but couldn't. 16. Over the weekend , AU Bank and icici bank reported very good numbers. 17. These banks have already rallied a lot before results
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