- U.S Markets closed higher Yesterday.
- As soon as U.S Markets opened it fell 300 points.
- Then market rallied from -300 to +450.
- U.S VIX crashed 5% yesterday.
- SGX nifty is indicating almost 200 point gap up today.
- SGX nifty is close to 16800 today.
- Market is likely to open close to resistance levels today.
- 16400 to 16800 is the range in which we are trading this weekly expiry.
- So if 16800 is crossed 17000 and 17200 open up
- 16400 is a super strong support now.
- Yesterday Nifty opened close to lower range and today it's opening at higher range.
- So 400 point move in just 1 trading session.
- Yesterday expiry as expected was quite rangebound.
- Suddenly now everything seems to be okay.
- In May month it was world coming to an end when you look at stock market
- June has been a bullish beginning so far.
- Im not confident of chasing this gap up at open.
- Will wait for a retest of yesterday's low near 16650 or close to 16700 and will look to build longs.
- Today we also have U.S jobs data so again that effect will be seen on Monday.
- Better not to carry positions over the weekend.
- Nifty might Trade between 16650 to 16850 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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