- U.S Markets closed lower yesterday.
- Right now Dow futures are down.
- Asian Markets are all trading lower.
- Reason of such negative sentiment is due to the above .
- SGX Nifty is now at 16250.
- Many including me thought Russia Ukraine War was a one off event.
- Negotiations would happen and finally everything would come at peace.
- But right now that's not the case.
- This doesn't seem to end anytime soon.
- The more the attack goes on the more likely war fears are going to escalate.
- Even if this War subsides we still have many other issues.
- Inflation, Interest rate hike being the major of them.
- We are likely to open below 16400 as SGX Nifty is suggesting.
- The next immediate support is at 16200.
- This was the low we made on Feb 24th Expiry day.
- If 16200 is taken out then downside remains open.
- As I've been suggesting from lot of time that this is a sell on rally Market.
- Use rallies to short the Market.
- Bull Market is history.
- We havent entered into Bear terrian yet but still we are going through brutal correction.
- Be very selective in stock picking.
- FII's have sold the highest yesterday In last 6 Months.
- 6600 crores is the amount of selling they have done.
- In just 2 sessions alone of March they have sold more than 11000 crores
- As of now it looks like March month is going to be brutal for Indian stock Market.
- Nifty might Trade between 16100 to 16400 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