- U.S Markets closed higher Yesterday.
- Right now , Dow futures are lower.
- Asian markets are lower.
- SGX Nifty is indicating a flat opening.
- It's a good news for the Bulls that U.S Markets showed resilience yesterday.
- Nasdaq underperformed Yesterday.
- In last 12 sessions Nasdaq is down 12%.
- After a relief rally in IT Stocks again pressure is being exerted.
- India VIX was up 10% yesterday at one point of time.
- After 3 pm there was a crash in India VIX & option premiums got eroded.
- 17200 to 18000 is the larger range for Nifty.
- Smaller range won't work in this market coz of huge Volatility.
- Expecting a Consolidation in the short run.
- Generally when there is huge Volatility market either tops out or bottoms out.
- Chances of market topping out at 18k is quite high right now.
- Bank Nifty is however outperforming Nifty.
- It's more likely that Bank Nifty could outperform from here.
- Reliance looks strong and once it takes out all time high it would be heading to 3000 levels.
- Nifty might Trade between 17350 to 17650 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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