- U.S Markets closed lower Yesterday.
- Right now Dow futures are higher by 140 points.
- Asian markets are mixed.
- SGX nifty is indicating a 50-60 point gap down.
- Yesterday was a mayhem over all the asset class.
- Stock Market , Commodity and Crypto all fell.
- Yesterday Nifty has closed near the lower end of the range.
- 15750 was the Russia - Ukraine low.
- This low was defended in the Month of May as well.
- Yesterday this level got broken.
- Last hour recovery helped market to close above this level.
- U.S VIX was up 20% yesterday.
- India VIX inched 15% higher yesterday.
- VIX inching higher is a worrying sign.
- Right now sentiment is extremely bearish.
- There is huge call writing from 15800 to 16200.
- There's no significant Put writing.
- So we are in a highly oversold territory.
- For any rally from here we need some positive triggers.
- So that shorts are out and Market rallies.
- Right now that doesn't look likely.
- We may continue to be in oversold territory for more time.
- Once we get closing below 15700 then we will have more downfall.
- Nifty might Trade between 15600 to 15900 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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