- U.S Markets closed higher on Friday.
- Right now Dow Futures are higher.
- Asian markets are higher.
- SGX nifty is up 150 points close to 16500.
- There's a pullback rally happening across all World markets.
- 15700 to 16400 was the range in which Nifty was trading violently.
- Today we are opening much above 16400.
- If we get a closing today above 16400 then 16800 opens up.
- This seems much likely seeing Global markets.
- U.S Markets have been rallying for last 5 trading sessions.
- Nasdaq is up 8% in last 3 trading sessions.
- In Bear markets pullback rallies are fast and furious and it's difficult to judge where it will stop.
- Rather than focusing too much for the long term.
- Right now 16800 is opening up sighting the trend.
- Bank Nifty has been outperforming since last 1 week compared to Nifty.
- This is mainly because IT index has been underperforming and dragging the Nifty.
- Expect IT index to join the rally.
- So in the short term market looks bullish.
- India VIX crashed 15% in last 2 trading sessions.
- Expecting in to close below 20 this week.
- June is a very long month with 5 weekly expirys without any public holiday.
- After Mayhem of May expecting markets to stabilize in June.
- Nifty might Trade between 16360 to 16600 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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