- U.S Markets closed flat Yesterday.
- Right now Dow futures are lower.
- SGX nifty is flat.
- Yesterday it was a downward trending day.
- Nifty found resistance near 15700 on Tuesday and then weakened from these levels.
- 15400 was a good support yesterday.
- So today the most important level to watch out is 15400.
- One can go long near this level with a 50 point stoploss.
- But if 15400 breaks and Market starts to weaken then 15200 opens up.
- Yesterday U.S Fed said that they are doing their best to control Inflation.
- Rate hikes are the only possible tools and U.S Stock Market Recession should continue.
- This wasn't a pleasant statement made by Fed.
- Yesterday U.K inflation data was announced and it was at 9.1%.
- This is the 40 year high Inflation number.
- Because of this Markets all over the World witnessed sell off yesterday.
- Today expiry should be range bound and don't expect big moves on either side.
- Midcaps and small caps are crashing like no tomorrow.
- Nifty is misleading as it's only 19% down from top.
- The real pain is in Mid and small caps.
- Most of these have fallen 30-50%.
- We have to get through the pain in order to witness good times.
- Nifty might Trade between 15380 to 15600 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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