- U.S Markets closed lower Yesterday.
- Asian markets are mixed.
- Dow futures are slightly higher right now.
- SGX Nifty is flat.
- Last 2 days Market was been making fresh lows.
- This is generally the price action before the Fed event.
- Market factors in the negatives.
- If market kept moving higher before Fed event then a shock by fed would've taken market 1000 points lower.
- Market going in with not much expectations is always good.
- 16400 is a very important level.
- Expect Nifty to hold onto this today.
- Also this is a very important buy zone for Nifty.
- Bank Nifty near 36k would be worth a long.
- However keep proper stoploss in case if reverses.
- Financials might lead the next rally from here on.
- Previous Bull market IT led the rally.
- This time it's going to be Financials + some minor sectors having not much weightage in Nifty.
- There is quite disparity going on in broader markets.
- Some stocks keep going higher and many keep going lower
- Clearly money is chasing quality names in the Mid & small cap space.
- Nifty might Trade between 16380 to 16600 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
Comments