- U.S Markets closed higher Yesterday.
- Asian markets are mixed
- Dow futures are slightly lower right now
- SGX Nifty is as flat as it can get.
- Yesterday market opened with a mild gap down.
- That gap down was immediately bought into.
- Markets were steady throughout the day.
- Until 2 pm there was slight profit booking and Nifty came close to 16500.
- As soon as Nifty touched support of 16500 there was a shap recovery.
- Nifty closed above 16600 yesterday.
- I keep listening that 16600 is achieved now market will fall
- 16700 is the last target after that it won't go higher etc
- I don't follow all these targets stuff etc.
- In an uptrend no resistance works.
- In an downtrend no support level works.
- Markets price action will tell you when it starts reversing
- Right now there's no such sign.
- Banks are leading this rally with slight participation from all sectors.
- ECB has raised interest rates by 50 basis points yesterday.
- Still there was no panic or reaction from the market.
- When Market starts ignoring negative news that means it is super Bullish sign.
- Nifty might Trade between 16500 to 16800 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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