- U.S Markets closed higher Yesterday.
- Asian markets are mixed.
- Dow futures are higher now.
- SGX Nifty is up 200+ points.
- Why do we have this large gap up today?
- I have no idea.
- There are no major positive cues across Globle.
- Everything is the same as before.
- Just that we are out of a major Fed event now.
- Today's gap up makes me a little bit uncomfortable.
- But Market doesn't care about all this.
- Wednesday Nifty made a low of 16450.
- Todays SGX Nifty high is 17200.
- So this is a swing of 700+ points in 2 trading sessions.
- This is quite a huge turnaround by the Markets.
- Bank Nifty is above 200 DMA
- Nifty today will be above 200 DMA.
- This is not a sell on rally / Bear Market anymore
- Yesterday U.S GDP data was announced.
- Data was in negative but even then Markets shot higher.
- When Market rallies on negative news then it is a super Bullish Market.
- Our clients have long positions / Put option sell positions so we have been saved.
- I have been anticipating this rally and was even communicating this via whatsapp status updates.
- I know many Call writers who have lost huge yesterday and will lose more today as well.
- So option selling is not that easy.
- Sometimes directional option selling is a necessity too.
- Nifty might Trade between 17000 to 17200 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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