- U.S Markets closed lower yesterday.
- Right now Dow futures are lower.
- SGX nifty is higher & trading at 15700.
- Asian markets are lower.
- Yesterday it was a very topsy turvy expiry.
- Nifty opened lower and just after opening it kept on moving higher.
- Huge short covering took place as soon as markets opened.
- Call option premiums started to shoot up.
- All CE's became 3-4x just in first hour.
- Near 15880 Nifty started to resist and some profit booking was witnessed.
- Nifty fell all the way back close to 15700 and it was all over the places.
- Yesterday to my surprise , all the Markets were in deep red.
- Dow futures were down 400 points during our trading hours.
- Even then our Markets have shown great resilience.
- Yesterday U.S markets as well were highly volatile.
- SGX Nifty made a low close to 15600 and recovered.
- All this Volatility in other markets is coming from mother market U.S
- 15700 to 15900 is the range for Nifty.
- This is a very narrow range and won't sustain for long.
- Long for a significant crossing of this range for the markets to pick up momentum.
- Within this range there is only one trade which is to buy at lower end and short at higher end.
- Today it's the first day of the July series. Yesterday Nifty June futures were trading at 20 points discount to spot.
- Even July futures were also at discount.
- This shows extreme shorting and bearishness in the Market.
- 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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