- U.S Markets closed higher on Friday and Monday.
- We had a holiday Yesterday but U.S Markets were open.
- SGX Nifty right now is above 17800.
- 17800 is a very important resistance zone for the markets.
- Closing above this would mean 18000 is on the way.
- Anyways my advice would be not to chase this gap up.
- Markets would provide you opportunity to enter on dips
- Asian markets are higher.
- 17500 PE has the highest open interest in monthly options
- 18000 CE has the highest open interest among call options.
- We have 8 trading sessions left and this seems to be the range for now.
- 17500 to 18000 is the range for now and expect markets to consolidate In this range for a while.
- However the way markets are moving I won't be surprised if market tries to break 18000.
- There was an unexpected news related to Rakesh Jhunjhunwala 's demice.
- The stocks in which he had a large amount of holdings could be under pressure today.
- Just because of confidence shake out amoung people.
- Bank Nifty on the other hand looks super Bullish and there's no stopping it
- ICICI Bank has already hit fresh all time high.
- India VIX is below 18 now
- Options premiums are too low as there is limited time left for expiry.
- Nifty might Trade between 17680 to 17880 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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