- U.S Markets crashed yet again on Friday.
- Right now Dow futures are flat
- Asian markets are lower.
- SGX Nifty is near 17100.
- Suggesting a big gap down opening for today
- There is a rally of news flow over the weekend.
- All of them are negative.
- Firstly , Ukraine & Russia war going on.
- It seems likely that Russia will invade Ukraine by this week.
- This has made Crude oil cross 95$/ barrell.
- We are the highest Importers of Crude Oil and this will effect us badly.
- Secondly , ABG Shipyard scam news broke over the weekend and there have been lots of questions on the same.
- ABG shipyard is not a new thing.
- This was in development since last 3 years.
- Many major banks have already recovered some dues from it.
- This could cause a sentimental impact to Bank Nifty but I do not see any longer term impact of the same.
- Thirdly , U.S Inflation and Interest rate hike plus Indian inflation and rate hike.
- This will be having a long term effect on Market and upto March end I don't see Market settling.
- 18000 I feel should be the top till March End.
- Fourth , Sucheta Dalal again targeting Adani group stocks.
- This would all be a one day affair as the same happened few months ago and by next day all of it recovered.
- Tweeting without any corresponding proofs doesn't bring down any group.
- Rather it creates suspicion on the Journalist after a point.
- Im Ultra Bearish till March .
- This is a sell on rally Market with big pull backs in between.
- Only highly skilled traders could make money out of this.
- Others are advisable to stay away for a week at least until the dust settles.
- Volatility will be heavy plus news flow.
- Nifty might Trade between 17000 to 17300 today.
- Do not short the Market immediately after gap down.
- Wait for 17200-17250 range to be rejected and that's where risk reward favours with stoploss of 17300.
- Whole of Inexperienced traders would be going short today at open today as everybody knows negative news.
- This is where big players hunt stoploss and take Market lower in 2nd half.
- 17000-17050 is immediate support.
- If this breaks we are heading towards 16850.
- 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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