- U.S Markets closed higher Yesterday.
- Right now Dow futures are Flat.
- SGX Nifty is higher by 80-100 points.
- Asian Markets are higher.
- Today we have a major event.
- U.S Inflation data for August is to released today.
- Though I think markets would not react much on this data.
- This seems more likely to have been factored in by the markets.
- SGX Nifty is indicating a gap up above 18k today.
- 18k is an important zone for Nifty.
- This strike has highest open interest in monthly & weekly options.
- Plus this is also a psychological resistance level.
- Closing above 18k will open door to 18200.
- 17800 is a very important support zone for the markets now.
- Bank Nifty is outperforming Nifty
- Expect Banks to continue outperformance going ahead as well.
- Nasdaq is also higher in U.S markets.
- This will boost the IT stocks here in India as well.
- Nifty might Trade between 17900 to 18100 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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