- U.S Markets closed lower yesterday.
- Right now Dow futures are slightly higher
- Asian markets are higher.
- SGX Nifty is near 16950.
- Suggesting a slightly positive opening for today
- Yesterday was a bloodbath all over Dalal Street.
- Nifty fell 3% , Bank Nifty 4% and almost all the stocks closed in Red
- Only TCS was positive yesterday in Nifty 50 rest all closed in Red.
- 17050 was this month's low and that got breached and we closed below the same.
- This indicates further weakness in the Market.
- We did halt yesterday at 16800 near 200 DMA yesterday but I feel it's a matter of time before we break it and test 16400.
- Markets have made a vertical rally last year so the fall now will also be vertical.
- My view would go wrong only if we get a closing above 17100 on Nifty.
- Until then sell on rally view remains.
- Banks supported the Market all along but now fresh downside expansion has started there as well.
- Big players are dumping stocks to retailers considering exuberance in the Market.
- War , Inflation etc are just reasons.
- When Market wants to go down it just needs reasons to go down.
- I don't think correction ends here and it's a good time to start buying stocks for long term.
- Until March end I feel the correction would continue and would expand.
- Once correction ends we would get an indication and then it would be a good indication to buy for long term.
- As of now let the Market correct and it's better to sit on cash.
- Do not follow people who on every dip keep saying "This is an opportunity for long term" etc.
- When Market goes up by 200 points they say see I said you so.
- Long term has nothing to do with timing the Market.
- Long term is buying quality at dirt cheap price.
- Prices are not cheap yet in my opinion.
- This would now be a very stock specific Market.
- Only selected quality stocks would be going higher and the broader Market would keep going down.
- One should be very selective and skilled to make money from hereon.
- Nifty might Trade between 16800 to 17100 today.
- If 16800 breaks be ready for fresh bloodbath.
- 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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