- U.S Markets closed mildly positive yesterday.
- Right now Dow futures are higher.
- It was a high volatile session yesterday in U.S
- Dow was up 400 at open , then it fell 600 points and then again up 600 and finally closed slightly positive.
- Asian markets are higher.
- SGX nifty is up 30-40 points.
- Today we have the monthly expiry for F&O contracts.
- Nifty is trading in a narrow range of 16900 and 17200.
- Within this range , Nifty is in a consolidation.
- Going significantly higher post a level would lead to a trend.
- Coming first week of May is a 4 day week.
- Tuesday is a holiday on Account of EID.
- Also Tuesday we will be starting Fed meeting in U.S
- Hence , plan your trades accordingly.
- 16800 -17000 has emerged as a strong support numerous number of occasions.
- Nasdaq is at its 52 week lows and that's what causing downfall in IT stocks.
- Facebook has just reported its numbers and it has beaten street expectations.
- Will this cause a positive sentiment from here on?
- Only time will say.
- Purely from a risk reward point of view I don't see shorting the markets now.
- We are near the lower band of the range.
- Going long with a stoploss of 16800 is a good trade now.
- Same on Bank Nifty with a stoploss of 35k positionally.
- Nifty might Trade between 17000 to 17200 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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