- U.S Markets closed lower Yesterday.
- Asian markets are mixed.
- Dow futures are slightly lower right now
- SGX Nifty is flat.
- Yesterday as well it was a very flat day.
- Nifty traded within a small range of 16560 to 16700.
- This might be because markets are now waiting for the Fed event.
- On Wednesday we do have Fed event coming.
- Fed will decide about the Interest rates etc.
- From there on traders & Investors will get a clue.
- Reliance dragged the nifty yesterday.
- Reliance was down more than 3% yesterday
- Bank Nifty facing stiff resitance near 37000.
- As soon as Bank Nifty touched 37000 there was a heavy sell off.
- Nifty is facing huge resistance near 16700.
- So I expect this sideways move to continue till Fed event.
- After Fed event itself market market will go one way or the other.
- India VIX inched 6% higher yesterday.
- Premiums are not coming down on the back of event.
- Nifty might Trade between 16500 to 16700 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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