- U.S Markets closed higher yesterday.
- Right now Dow futures & Asian markets are slightly lower.
- SGX Nifty is higher by 120-150 points.
- Indian Market is in a consolidation mode.
- 17000 to 17500 is the range and this consolidation is with huge Volatility.
- Today we may have a test of 17450-17500.
- I don't think we may surpass this level today itself.
- As 17200 short straddle has the highest open interest and it's at 300rs.
- These people will make profit between 16900-17500.
- There were reports claiming Putin and Zelensky have agreed to negotiate and talk.
- Also there were reports to end the ongoing War.
- U.S VIX crashed yet another 3% yesterday.
- This is below 19 now.
- India VIX closed near 21 yesterday.
- Expecting this to come even lower in coming days.
- Markets have been highly volatile since feb end.
- In March itself Nifty has made a swing of 3500+ points.
- From 17200 to 15700 and now 17500.
- This is some crazy swing and it causes positional trading very difficult.
- Markets consolidating is a good sign as there would be more steam on the upside.
- Nifty might Trade between 17200 to 17500 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