- U.S Markets closed marginally higher on Friday.
- Dow futures are now lower.
- Asian markets are mixed.
- SGX Nifty is down 30-40 points.
- April series has started with a bang.
- Nifty rallied 200 points on Friday and most of it was contributed in the last hour of trade.
- India VIX crashed 12% intraday.
- This is something amazing and out of the box.
- For the last 6 months markets have been very volatile and India VIX was always above 20.
- For the first time after many trading sessions it has come below 20.
- India VIX below 20 indictes stability in the Market and it's beneficial for the option sellers.
- Also it indicates that market has very limited downside from here on.
- Chances of Market going higher are more.
- Not much development over the weekend.
- Russia - Ukraine is an ongoing problem.
- Pakistan military is likely to take over Imran khan.
- Whether that would happen peacefully or through protests is a matter to look into.
- Pre war high was 17606 on Nifty.
- We have crossed it significantly on Friday.
- This indicates bullishnsss going ahead.
- 17800 is the next resistance , we have resistance at every 200 points now.
- 17800 , 18000 , 18200 etc.
- 17500 is now a strong and immediate support for longs.
- Nifty might Trade between 17600 to 17900 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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