- U.S Markets closed slightly lower yesterday.
- Asian markets are slightly lower too.
- SGX Nifty is down 30-40 points.
- Yesterday was a highly volatile day trading day.
- Whole of August markets were trending.
- But this last week markets have been hugely volatile and making large moves on daily basis.
- Unless this Fed event subsides expect markets to be the same way.
- India VIX was higher yesterday too.
- Yesterday markets broke important support of 17500 but closed above this level towards the end of the day.
- Adani group stocks were hit badly yesterday.
- There was a report from leading credit agencies that said Adani group stocks are debt laden.
- Debt is overpowering in this group and that could cause a damage financially.
- Adani is also competing Reliance is few of the businesses and that could bring a price war.
- It's better not to discuss Adani group stocks as the valuations are sky high and trading there is next to impossible.
- It's news driven stocks.
- My experience with news driven stocks particularly when they keep hitting fresh highs says just to be away from this counter.
- Bank Nifty after 2 bad days of crash stabilized yesterday.
- Expecting consolidation with huge Volatility today as well
- Nifty might Trade between 17400 to 17700 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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