- U.S Markets closed lower yesterday.
- When we were trading Dow was up 300 points
- All these gains have been given up during trading hours in U.S.
- Asian markets are lower.
- SGX nifty is below 16k.
- Right now Dow futures are flat.
- Yesterday Nifty for a moment broke 16k.
- In the final hour we witnessed relatively strong short covering rally.
- Yesterday we had the U.S Inflation numbers and they were higher than expected .
- 8.1% was expected but it came in at 8.3%.
- Because of this U.S Market cracked yesterday as well.
- 16000 PE has the highest open interest both in weekly as well as monthly so these Put writers should face trouble today.
- Every minor bounce is being sold into
- Mid and small caps have been butchured and this is just the beginning.
- This is the beginning of a bear Market and these stocks will be taken to cleaners.
- Portfolios have been taking s big hit in recent times.
- Momentum is strong towards downside and any minor bounce is being sold into.
- The hope was U.S Inflation numbers could turn around the game but it was also a big disappointment.
- This May month Nifty touched 17400 and fell all the way to 16000.
- This is a 1400 point decline in less than 9 trading sessions.
- Yes the markets are oversold and they could continue to be oversold for longer duration.
- Same when they were overbought for whole of 2020.
- Personally I like these corrections because it corrects a lot of froth , misvaluations and stocks come back to valuations they deserve or even lesser.
- All the fancied IPO companies are down by 50-60% each.
- Nifty might Trade between 16000 to 16200 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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