- U.S Markets closed higher Yesterday.
- Right now Dow futures are flat.
- Asian Markets are mixed.
- SGX Nifty is up 100 points.
- Yesterday Nifty opened near 17500 and witnessed a bounce.
- 17500 to 17800 is the range for Nifty
- Almost on a daily basis now market is testing the lower and upper end of the range
- Unless there is a clear indication of range being crossed we cannot expect a big move.
- Markets are likely to consolidate within this range itself.
- Bank Nifty is facing stiff resistance near 40k.
- This is a very important level for Bank nifty as it also acts as a psychological resistance.
- Can expect a one way rally only when 40k gets taken out.
- ITC is the stock to watch.
- 330 is the all time high for ITC.
- Above this there would be fireworks.
- Margin of safety is also quite high for ITC as it's a slow and steady stock.
- Stay away from Suzlon stock.
- There have been rumours about Adani investing into this company which has been clarified already.
- Adani has denied rumours.
- Still stock keeps going higher as people keep chasing it without applying logic.
- Nifty might Trade between 17500 to 17800 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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