- U.S Markets closed higher Yesterday.
- U.S Markets have recovered all of their losses of Monday and Tuesday.
- Just Yesterday in a day.
- SGX Nifty is higher by 90-100 points.
- Asian markets are higher.
- Yesterday markets crossed the swing low of 17380 in the final hour
- That gave us an Indication regarding how Bullish the Market is.
- 17500 is the next resistance now.
- Bank Nifty is super bullish.
- In this Bull Market I expect Financials to lead the rally.
- Which we are already witnessing from past month.
- Tomorrow we have RBI policy so today last hour Bank Nifty might get Volatile.
- This is clearly a buy on dips market.
- Each dip is being bought and Market inches higher the next day.
- Yesterday I had adviced to go long near 17200 and this trade played out really well.
- Nifty in the first hour was negative and trading near 17200 but closed at the highest point of the day.
- 17200 is now a very major support for the markets.
- Next leg of rally will begin only once Nifty closes above 17500.
- Until then markets might again take their time & consolidate.
- Nifty might Trade between 17380 to 17580 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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