- U.S Markets closed higher Yesterday.
- Dow futures are slightly higher right now.
- Asian markets are higher.
- SGX Nifty is up 200 points.
- Yesterday we had a very flat session.
- Nifty traded within a small range of 100 points throughout the day.
- Markets were waiting for the U.S Inflation data to be out.
- Expected Inflation was 8.7% but it came at 8.5% which was much lower than expected.
- This led to a fierce rally in the markets all over the World.
- U.S VIX crashed 10% yesterday.
- This is because another event now is out of the way.
- Now 17500 becomes a very strong support after today's big gap up.
- Many market participants still not believing this rally and calling it as a Bear market bounce.
- I do not think so.
- Bull market has started in July and this is a continuation of the same
- FII's have been net buyers in previous 9 trading sessions.
- They are on a buying spree and once they begin to buy they usually do not stop.
- Today all the call writers would be in trouble.
- 17600 , 17650 , 17700 added good open interest yesterday.
- All these will be in trouble at open.
- This will push the Market higher.
- Nifty might Trade between 17600 to 17840 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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