- U.S Markets closed lower yesterday.
- Right now Markets are flat.
- Yesterday India VIX shot up 8% without any negative news.
- Premiums on both the sides are quite higher.
- Calls and Puts both are commanding higher premium.
- This is because of India VIX rise.
- India VIX rising without any big negative is a matter of concern.
- FII's who bought aggressively before weekend on Thursday have sold aggressively yesterday.
- Yet again they might start their selling spree once again.
- This is what is going on since last 6 months.
- FII's keep selling , DII's keep buying.
- Market becoming highly volatile.
- 17500 , 17600 CE in weekly options has the highest open interest.
- IT index has supported Nifty all the way from lower levels.
- Now I feel they should stabilize and it's upto the financial stocks to give leadership.
- SGX Nifty is at 17200 now.
- 17300 is a strong resistance for Nifty.
- Once we close above 17300 will we see fresh buying.
- Crude oil again goes above 110$ & this is a negative news in short term
- Until then we can expect rangebound move with slight negative bias .
- Nifty might Trade between 17050 to 17350 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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