- U.S Markets closed higher yesterday.
- Right now Dow futures & Asian markets are flat.
- SGX Nifty is higher by 40-50 points.
- Indian Market is in a consolidation mode.
- 17000 to 17500 is the range and this consolidation is with huge Volatility.
- Big one sided trend would develop only once this range gets taken out.
- Until then this would continue to be a ranging Market.
- Last time , when the Crude prices crossed 125$ Nifty was at 15700.
- Now again crude prices are rising but markets are resilient.
- Only 1 major reason is that FII's have stopped selling as they used to do before.
- Since the day BJP has won elections FII's have sold very less compared to before.
- In some situations they have bought as well.
- This is what is keeping the markets resilient.
- Bank Nifty would be under serious pressure as long as crude prices keep rising.
- Inflation also is a big worry as commodity prices keep going higher.
- Another factor Is the global markets rally.
- U.S markets are also above 200 DMA and they have also been rallying.
- This is also keeping the markets resilient.
- Right now the view is rangebound between 17000 to 17500.
- Trending move would develop only after this range breaks.
- Nifty is likely to outperform as compared to Bank Nifty.
- There's no positive news from Russia - Ukraine front.
- It's better not to carry positions over weekend and stay very light.
- This is a highly volatile market and can turn in minutes.
- Nifty might Trade between 17100 to 17400 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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