- U.S Markets closed higher yesterday.
- Right now Dow futures are lower.
- Asian markets are lower.
- SGX Nifty is near 17500.
- Suggesting a positive opening for the day.
- Today the talk of the town is RBI Policy.
- RBI policy was originally scheduled yesterday but it got postponed to today
- Interestingly , we got weekly expiry today as well.
- RBI policy is expected to be out by 11 today and the general expectation is rise In repo rate by 20 basis points.
- Majorly , RBI governer comments about inflation etc will be closely monitored.
- I somehow feel RBI will increase by 20 basis points and we will have some profit booking today.
- Market has rallied much before RBI policy so I feel the upside from here in very limited.
- 2022 seems to be a year of Consolidation with huge Volatility.
- Upto now Nifty has been moving violently within 16800 to 18600.
- 50 DMA is at 17620 and a bigger resistance is at 17800.
- As we went all the way to 17050 from 17800.
- This isn't a market where you take positions and play for bigger gains.
- This is a volatile market and you should get in and get out quick.
- Holding Positions till expiry will cause big damage.
- IT sector is close to 200 DMA and the first test of 200 DMA always allow a good buying opportunity in a Bull Market.
- Nifty might Trade between 17300 to 17600.
- 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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