- U.S Markets crashed Yesterday.
- Right now Dow futures are slightly higher.
- SGX Nifty is at 15750.
- Asian markets are mixed.
- Yesterday we had exit poll results.
- Exit Poll results cannot be trusted with 100% accuracy.
- In the past as well many of the times exit Poll results have gone wrong.
- Majority exit Poll show that BJP is likely to win UP again.
- This is a positive news for stock market.
- In Bearish times markets don't react to good news but react to bad news
- 15800 is a very important support on Nifty.
- Last year Market made a consolidation of 3 Months near 15800-16000 and then broke out.
- So technically it becomes a very important support this time as well
- If this breaks then 15500 -14800 open up.
- The falls will be equally fierce as the rallies.
- Market did rally one way and now falls will also be one way.
- Right now we have crude oil shock impact as well.
- Crude Oil has shot up to 130-140$ / barrel.
- In history I've observed , whenever crude oil stays higher Nifty always have given negative returns.
- Currency is also weakening day by day
- Rupee yesterday hit it's lowest level of last 1 year.
- All this makes worrying signs currently.
- Not advisable to short gap downs.
- Look for rallies close to 16000 to short .
- 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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