- U.S Markets closed higher yesterday.
- Right now Dow futures & Asian markets are mixed.
- SGX Nifty is higher by 80-90 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.
- Most important thing to note here is U.S VIX closed below 20 yesterday.
- Just 2 weeks back it was above 30.
- VIX crashing indicates stability in the Market.
- It's also an added advantage for option writers as premiums keep falling.
- In high VIX environment it becomes very difficult to manage Positions.
- Yesterday we had another test of 17000 but again there has been a fantastic recovery.
- As and when Nifty has been close to 17k Market has recovered quickly.
- India VIX closed at 22 yesterday.
- Expecting this to go lower as well in coming days.
- This is now a buy on dip Market.
- Market expecting some good news from Russia Ukraine front.
- As markets all over the World are going higher and VIX keeps crashing.
- Chances of an upside breakout above 17500 is much more higher than breaking 17k on the downside.
- 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
Comments