- U.S Markets closed flat Yesterday.
- Right now Dow futures are slightly higher
- Asian markets are mixed.
- SGX Nifty is up 30-40 points.
- Yesterday was the day of index heavyweights.
- That too , particularly Infosys and HDFc twins.
- HDFC Bank contributed 500 points for Bank Nifty fall.
- These 3 stocks combined have contributed for 200 point in Nifty yesterday.
- HDFC Bank in spite of posting good numbers is seeing a massive hit.
- HDFC Ltd is also bearing the brunt due to the same.
- In there something Market knows and we don't.
- Or this is a short term pain?
- After merger news hdfc bank hit a high of 1700+
- Now it's below 1400.
- This is a 300 point fall in less than trading sessions.
- These stocks have been making Market highly volatile than ever before.
- Many retailers have been trapped at higher levels.
- These big institutions offload at higher levels and trap retail.
- FII's have sold for 6500 crores yesterday whereas DII's bought for 3500 crores
- While it's unfortunate , every damn possible thing happens in stock market.
- Right now I sense yesterday's low of 17060 on Nifty should be the bottom for this week at least.
- Upside resistance is at 17400.
- So we might be trading within this band for next 3 days.
- Nifty might Trade between 17150 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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