- U.S Markets closed higher on Friday.
- Right now Dow Futures are lower.
- Asian markets are slightly lower.
- SGX Nifty is down 60-70 points
- We are likely to open gap down near 17400-17420.
- On Friday Amazon , Pinterest declared great Results.
- But Dow Jones closed flat and other indices were slightly higher
- RBI policy which was due today has been shifted to 8th Feb due to Public holiday today in Maharashtra on the demise of mrs.Lata Mangeshkar
- Inflation data in U.S is set to be out today.
- This is causing some jitter in global Markets.
- SBI & Bank of Baroda have declared great results over the weekend.
- Both stocks have been trading near 52 week high.
- On Friday both of them have cooled off.
- Today's price action would be interesting on Bank Nifty.
- Right now Market is lacking any trigger to make a significant move.
- 17400 to 17600 is the range for Nifty and we may chop around here
- 17800 CE for weekly options added highest open interest.
- 17500 PE in monthly added huge open interest.
- Seems like Market may chop in between this range.
- I've turned Neutral from Bullish as we have broken 17500.
- Nifty might Trade between 17380 to 17600 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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